Tencent Holding Ltd. (OTCMKTS:TCEHY) Short Interest Update

Tencent Holding Ltd. (OTCMKTS:TCEHY) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 2,254,526 shares, a decline of 38.5% from the May 31st total of 3,667,197 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 9,259,998 shares, the days-to-cover ratio is currently 0.2 days.

Tencent Stock Down 1.5%

TCEHY stock opened at $55.35 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. Tencent has a fifty-two week low of $52.84 and a fifty-two week high of $87.68. The firm’s 50-day simple moving average is $57.81 and its 200 day simple moving average is $66.42. The stock has a market cap of $504.13 billion, a PE ratio of 15.46 and a beta of 0.26.

Analysts Set New Price Targets

A number of brokerages have weighed in on TCEHY. Zacks Research cut shares of Tencent from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Barclays reaffirmed an “overweight” rating and issued a $106.00 price target on shares of Tencent in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

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.