Tencent Holdings Limited (OTCMKTS:TCEHY) Sees Large Growth in Short Interest

Tencent Holdings Limited (OTCMKTS:TCEHY) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 3,834,800 shares, a growth of 24.8% from the March 15th total of 3,072,700 shares. Based on an average daily trading volume, of 4,629,100 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

Separately, Barclays cut their target price on Tencent from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st.

Tencent Stock Down 3.0 %

OTCMKTS:TCEHY opened at $38.70 on Friday. The business’s 50-day moving average price is $37.13 and its 200 day moving average price is $37.96. The firm has a market cap of $366.18 billion, a P/E ratio of 23.17 and a beta of 0.32. Tencent has a 52-week low of $33.00 and a 52-week high of $47.29.

Tencent (OTCMKTS:TCEHY) last released its earnings results on Wednesday, March 20th. The technology company reported $0.52 earnings per share (EPS) for the quarter. The firm had revenue of $21.54 billion for the quarter. Tencent had a return on equity of 14.60% and a net margin of 32.33%. Sell-side analysts expect that Tencent will post 2.68 EPS for the current year.

About Tencent

Tencent Holdings Limited, an investment holding company, offers value-added services (VAS), online advertising, fintech, and business services in the People's Republic of China and internationally. It operates through VAS, Online Advertising, FinTech and Business Services, and Others segments. The company's consumers business provides communication and services, such as instant messaging and social network; digital content including online games, videos, live streaming, news, music, and literature; fintech services, which includes mobile payment, wealth management, loans, and securities trading; and various tools, such as network security management, browser, navigation, application management, email, etc.