Tencent (OTCMKTS:TCEHY) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Tencent Holdings Limited (OTCMKTS:TCEHY) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $57.04 and traded as high as $66.11. Tencent shares last traded at $65.61, with a volume of 2,367,728 shares changing hands.

Analysts Set New Price Targets

Separately, Barclays reissued an “overweight” rating and issued a $88.00 price objective on shares of Tencent in a report on Thursday, March 20th.

Tencent Price Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.35 and a quick ratio of 1.33. The stock has a 50 day moving average price of $62.57 and a 200-day moving average price of $57.04. The stock has a market capitalization of $603.83 billion, a price-to-earnings ratio of 34.53 and a beta of 0.11.

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.