Let’s start up with the current stock price of Tencent Music Entertainment Group (TME), which is $19.20 to be very precise. The Stock rose vividly during the last session to $18.68 after opening rate of $18.55 while the lowest price it went was recorded $18.085 before closing at $18.61.
Recently in News on November 19, 2020, Tencent Music Entertainment Group Announces Strategic Partnership and Investment in Wave. Tencent Music Entertainment Group (“Tencent Music,” “TME,” or the “Company”) (NYSE: TME), the leading online music entertainment platform in China, today announced a strategic partnership and minority equity investment in Wave, the market leader in interactive virtual entertainment experiences. Under the partnership, TME will be able to air Wave experiences in China across all of its platforms including QQ Music, Kugou Music, Kuwo Music, and WeSing. You can read further details here
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Tencent Music Entertainment Group had a pretty favorable run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $19.63 on 12/09/20, with the lowest value was $9.22 for the same time period, recorded on 03/23/20.
Tencent Music Entertainment Group (TME) full year performance was 54.18%
Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock’s existing status and the future performance. Presently, Tencent Music Entertainment Group shares are logging -2.17% during the 52-week period from high price, and 108.30% higher than the lowest price point for the same timeframe. The stock’s price range for the 52-week period managed to maintain the performance between $9.22 and $19.63.
The company’s shares, operating in the sector of Communication Services managed to top a trading volume set approximately around 2366175 for the day, which was evidently lower, when compared to the average daily volumes of the shares.
When it comes to the year-to-date metrics, the Tencent Music Entertainment Group (TME) recorded performance in the market was 58.52%, having the revenues showcasing 17.78% on a quarterly basis in comparison with the same period year before. At the time of this writing, the total market value of the company is set at 31.24B, as it employees total of 3610 workers.
Tencent Music Entertainment Group (TME) in the eye of market guru’s
During the last month, 0 analysts gave the Tencent Music Entertainment Group a BUY rating, 0 of the polled analysts branded the stock as an OVERWEIGHT, 0 analysts were recommending to HOLD this stock, 0 of them gave the stock UNDERWEIGHT rating, and 0 of the polled analysts provided SELL rating.
According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 15.54, with a change in the price was noted +2.89. In a similar fashion, Tencent Music Entertainment Group posted a movement of +17.89% for the period of last 100 days, recording 8,844,308 in trading volumes.
Total Debt to Equity Ratio (D/E) can also provide valuable insight into the company’s financial health and market status. The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders’ equity. Debt to Equity thus makes a valuable metrics that describes the debt, company is using in order to support assets, correlating with the value of shareholders’ equity The total Debt to Equity ratio for TME is recording 0.11 at the time of this writing. In addition, long term Debt to Equity ratio is set at 0.11.
Tencent Music Entertainment Group (TME): Stocks Technical analysis and Trends
Raw Stochastic average of Tencent Music Entertainment Group in the period of last 50 days is set at 89.36%. The result represents improvement in oppose to Raw Stochastic average for the period of the last 20 days, recording 84.27%. In the last 20 days, the company’s Stochastic %K was 82.28% and its Stochastic %D was recorded 86.84%.
If we look into the earlier routines of Tencent Music Entertainment Group, multiple moving trends are noted. Year-to-date Price performance of the company’s stock appears to be pessimistic, given the fact the metric is recording 58.52%. Additionally, trading for the stock in the period of the last six months notably improved by 51.30%, alongside a boost of 54.18% for the period of the last 12 months. The shares increased approximately by 11.17% in the 7-day charts and went down by 24.48% in the period of the last 30 days. Common stock shares were driven by 17.78% during last recorded quarter.