Tencent (OTCMKTS:TCEHY) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Tencent Holding Ltd. (OTCMKTS:TCEHY) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $64.64 and traded as high as $76.48. Tencent shares last traded at $76.46, with a volume of 1,090,550 shares changing hands.

Analysts Set New Price Targets

Separately, Barclays reiterated an “overweight” rating on shares of Tencent in a research report on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, the company has an average rating of “Strong Buy” and an average target price of $88.00.

Tencent Stock Up 1.0%

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $699.89 billion, a PE ratio of 24.74 and a beta of 0.09. The company has a fifty day moving average price of $68.08 and a 200 day moving average price of $64.64.

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.