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

Tencent Holdings Limited (OTCMKTS:TCEHY - Get Free Report) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 5,546,200 shares, a drop of 28.0% from the March 15th total of 7,707,700 shares. Based on an average daily volume of 8,798,800 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.1% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, Barclays reaffirmed an "overweight" rating and issued a $88.00 price target on shares of Tencent in a report on Thursday, March 20th.

Tencent Trading Up 3.6 %

Shares of OTCMKTS TCEHY traded up $2.08 during midday trading on Wednesday, hitting $60.10. The company's stock had a trading volume of 3,008,479 shares, compared to its average volume of 5,209,740. Tencent has a 12-month low of $42.16 and a 12-month high of $71.82. The company has a current ratio of 1.35, a quick ratio of 1.33 and a debt-to-equity ratio of 0.31. The firm has a market cap of $553.06 billion, a P/E ratio of 31.63 and a beta of 0.14. The business's 50 day moving average is $62.82 and its two-hundred day moving average is $56.25.

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.