Tencent Holding Ltd. (OTCMKTS:TCEHY) Short Interest Down 39.4% in April

Tencent Holding Ltd. (OTCMKTS:TCEHY) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 2,683,611 shares, a decrease of 39.4% from the April 15th total of 4,425,467 shares. Based on an average daily volume of 8,433,694 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

TCEHY has been the topic of several recent research reports. Zacks Research lowered shares of Tencent from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 23rd. Erste Group Bank downgraded shares of Tencent from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Barclays reaffirmed an “overweight” rating and issued a $106.00 target price on shares of Tencent in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Tencent has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Tencent Stock Down 2.3%

TCEHY traded down $1.36 during trading on Monday, reaching $57.33. 3,737,313 shares of the stock were exchanged, compared to its average volume of 3,742,529. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s 50 day moving average price is $63.84 and its two-hundred day moving average price is $72.14. Tencent has a twelve month low of $57.01 and a twelve month high of $87.68. The stock has a market cap of $522.70 billion, a P/E ratio of 16.01 and a beta of 0.29.

About Tencent

Tencent Holdings Limited is a Chinese multinational technology conglomerate headquartered in Shenzhen, Guangdong. Founded in 1998, the company grew from early instant-messaging products into a diversified internet services group and is listed on the Hong Kong Stock Exchange. Tencent’s businesses span consumer-facing applications, digital content, cloud services and financial technology, supported by a broad investment program in global technology and gaming companies.

At the consumer level Tencent operates major social and communication platforms such as QQ and WeChat (Weixin), which combine messaging, social networking, mobile payments and a wide range of mini-programs and services.