Tencent (OTCMKTS:TCEHY) Rating Lowered to “Strong Sell” at Zacks Research

Tencent (OTCMKTS:TCEHY) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday,Zacks.com reports.

Separately, Barclays reissued an “overweight” rating and issued a $106.00 target price on shares of Tencent in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Tencent currently has an average rating of “Hold” and a consensus price target of $106.00.

Tencent Trading Up 0.8%

Tencent stock opened at $56.89 on Wednesday. The firm has a 50-day moving average of $57.84 and a 200-day moving average of $61.08. Tencent has a one year low of $52.84 and a one year high of $87.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.42. The company has a market cap of $517.87 billion, a price-to-earnings ratio of 15.59 and a beta of 0.27.

Institutional Trading of Tencent

A hedge fund recently bought a new position in Tencent stock. Raiffeisen Bank International AG bought a new position in shares of Tencent Holding Ltd. (OTCMKTS:TCEHY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 and hedge funds.

Tencent Company Profile

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.