Tencent (OTCMKTS:TCEHY – Get Free Report) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks reports.
Tencent Price Performance
TCEHY stock opened at $55.65 on Thursday. The firm has a 50 day moving average price of $57.28 and a 200-day moving average price of $59.42. Tencent has a 52-week low of $52.84 and a 52-week high of $87.68. The firm has a market capitalization of $506.59 billion, a price-to-earnings ratio of 15.25 and a beta of 0.26. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 1.29.
Hedge Funds Weigh In On Tencent
A hedge fund recently bought a new stake in Tencent stock. Raiffeisen Bank International AG bought a new position in Tencent Holding Ltd. (OTCMKTS:TCEHY – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 259,080 shares of the technology company’s stock, valued at approximately $13,897,000. 0.02% of the stock is owned by institutional investors.
Tencent Company Profile
Tencent Holdings Limited is a Chinese technology and internet company founded in 1998 and headquartered in Shenzhen, China. The company develops and operates digital platforms, online services and technology products for consumers, businesses and public-sector organizations.
Tencent’s consumer businesses include WeChat, a social communications and digital services platform, and QQ, an instant-messaging and online community service. The company also develops and publishes video games through its domestic and international operations, and provides digital content such as music, video, literature and other entertainment services.
Through its fintech and business services operations, Tencent offers payment services, wealth-management products, cloud computing, cybersecurity, advertising technology and other enterprise solutions.
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