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Tencent Music Entertainment Group (TME) can’t be written off after posting last 3-months Average volume of 7.75M

At the end of the latest market close, Tencent Music Entertainment Group (TME) was valued at $7.62. In that particular session, Stock kicked-off at the price of $7.50 while reaching the peak value of $7.80 and lowest value recorded on the day was $7.44. The stock current value is $7.82.Recently in News on February 20, 2023, Tencent Music Entertainment Group to Report Fourth Quarter and Full Year 2022 Financial Results on March 21, 2023 Eastern Time. Tencent Music Entertainment Group (“TME”, or the “Company”) (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced that it will report its unaudited financial results for the fourth quarter and full year of 2022 before the U.S. market opens on Tuesday, March 21, 2023. You can read further details here

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 $9.29 on 01/04/23, with the lowest value was $3.05 for the same time period, recorded on 03/15/22.

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Tencent Music Entertainment Group (TME) full year performance was 127.33%

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 -15.82% during the 52-week period from high price, and 165.08% 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 $9.29.

The company’s shares, operating in the sector of Communication Services managed to top a trading volume set approximately around 2285055 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 -5.56%, having the revenues showcasing -4.75% 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 12.76B, as it employees total of 5966 workers.

Analysts verdict on Tencent Music Entertainment Group (TME)

During the last month, 13 analysts gave the Tencent Music Entertainment Group a BUY rating, 5 of the polled analysts branded the stock as an OVERWEIGHT, 6 analysts were recommending to HOLD this stock, 0 of them gave the stock UNDERWEIGHT rating, and 3 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 7.10, with a change in the price was noted +3.80. In a similar fashion, Tencent Music Entertainment Group posted a movement of +96.09% for the period of last 100 days, recording 10,475,217 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 0.13 at the time of this writing. In addition, long term Debt to Equity ratio is set at 0.13.

Tencent Music Entertainment Group (TME): Technical Analysis

Raw Stochastic average of Tencent Music Entertainment Group in the period of last 50 days is set at 22.98%. The result represents downgrade in oppose to Raw Stochastic average for the period of the last 20 days, recording 35.69%. In the last 20 days, the company’s Stochastic %K was 24.83% and its Stochastic %D was recorded 16.68%.

Let’s take a glance in the erstwhile performances of Tencent Music Entertainment Group, 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 -5.56%. Additionally, trading for the stock in the period of the last six months notably improved by 54.24%, alongside a boost of 127.33% for the period of the last 12 months. The shares increased approximately by 1.43% in the 7-day charts and went up by -3.46% in the period of the last 30 days. Common stock shares were lifted by -4.75% during last recorded quarter.

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