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Do Tencent Music Entertainment Group (TME) beta value of 0.60 signposts another twist?

Let’s start up with the current stock price of Tencent Music Entertainment Group (TME), which is $4.23 to be very precise. The Stock rose vividly during the last session to $4.375 after opening rate of $4.28 while the lowest price it went was recorded $4.22 before closing at $4.30.Recently in News on September 20, 2022, Tencent Music Entertainment Group Successfully Listed on Hong Kong Stock Exchange. Tencent Music Entertainment Group (“TME,” or the “Company”) (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, announced on September 21, 2022 (Beijing/Hong Kong Time) that it has successfully listed, by way of introduction, its Class A ordinary shares (the “Shares”) on the Main Board of The Stock Exchange of Hong Kong Limited (the “SEHK”). The Shares are traded on the Main Board of SEHK under the stock code “1698” in board lots of 100 Shares, and the stock short name is “TME.” The Company’s American Depositary Shares (the “ADSs”), each representing two Shares, remain primarily listed and traded on the New York Stock Exchange (the “NYSE”). The Shares listed on the Main Board of the SEHK are fully fungible with the ADSs listed on the NYSE. You can read further details here

Tencent Music Entertainment Group had a pretty Dodgy run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $7.66 on 01/12/22, with the lowest value was $2.95 for the same time period, recorded on 03/14/22.

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Tencent Music Entertainment Group (TME) full year performance was -43.15%

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 -53.52% during the 52-week period from high price, and 43.39% 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 $2.95 and $9.10.

The company’s shares, operating in the sector of Communication Services managed to top a trading volume set approximately around 5273497 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 -38.25%, having the revenues showcasing -11.69% 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 7.58B, as it employees total of 5966 workers.

Specialists analysis on Tencent Music Entertainment Group (TME)

During the last month, 11 analysts gave the Tencent Music Entertainment Group a BUY rating, 3 of the polled analysts branded the stock as an OVERWEIGHT, 13 analysts were recommending to HOLD this stock, 0 of them gave the stock UNDERWEIGHT rating, and 2 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 4.48, with a change in the price was noted -0.02. In a similar fashion, Tencent Music Entertainment Group posted a movement of -0.47% for the period of last 100 days, recording 12,655,301 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 0.12 at the time of this writing. In addition, long term Debt to Equity ratio is set at 0.12.

Trends and Technical analysis: Tencent Music Entertainment Group (TME)

Raw Stochastic average of Tencent Music Entertainment Group in the period of last 50 days is set at 27.33%. The result represents improvement in oppose to Raw Stochastic average for the period of the last 20 days, recording 7.14%. In the last 20 days, the company’s Stochastic %K was 15.10% and its Stochastic %D was recorded 21.09%.

Now, considering the stocks previous presentation, multiple moving trends are noted. Year-to-date Price performance of the company’s stock appears to be encouraging, given the fact the metric is recording -38.25%. Additionally, trading for the stock in the period of the last six months notably deteriorated by -21.23%, alongside a downfall of -43.15% for the period of the last 12 months. The shares increased approximately by -12.42% in the 7-day charts and went down by -3.86% in the period of the last 30 days. Common stock shares were lifted by -11.69% during last recorded quarter.

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