Tencent (OTCMKTS:TCEHY) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Tencent Holdings Limited (OTCMKTS:TCEHY) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $50.87 and traded as high as $53.40. Tencent shares last traded at $53.17, with a volume of 1,647,639 shares.

Wall Street Analysts Forecast Growth

Separately, New Street Research raised Tencent to a “strong-buy” rating in a research note on Monday, September 9th.

Tencent Stock Down 0.1 %

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 business has a 50 day moving average of $52.71 and a 200-day moving average of $50.91. The stock has a market cap of $492.76 billion, a PE ratio of 27.98 and a beta of 0.16.

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.