PDD Holdings Inc. (NASDAQ:PDD) Sees Significant Decline in Short Interest

PDD Holdings Inc. (NASDAQ:PDD) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 23,850,000 shares, a decrease of 16.6% from the December 15th total of 28,600,000 shares. Based on an average daily volume of 10,190,000 shares, the short-interest ratio is presently 2.3 days.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PDD shares. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Jefferies Financial Group decreased their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Benchmark dropped their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $126.00 to $224.00 in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, PDD presently has an average rating of “Moderate Buy” and an average target price of $173.40.

PDD Stock Performance

Shares of NASDAQ PDD traded down $0.44 during trading on Thursday, reaching $100.26. 5,800,463 shares of the company traded hands, compared to its average volume of 6,734,516. PDD has a 12-month low of $88.01 and a 12-month high of $164.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a market cap of $137.95 billion, a P/E ratio of 9.79, a PEG ratio of 0.25 and a beta of 0.66. The firm’s fifty day simple moving average is $103.13 and its 200 day simple moving average is $117.64.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Prospera Private Wealth LLC purchased a new position in shares of PDD during the 3rd quarter valued at approximately $27,000. Venturi Wealth Management LLC purchased a new position in PDD in the third quarter valued at $29,000. Richardson Financial Services Inc. raised its position in shares of PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after acquiring an additional 233 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of PDD during the 3rd quarter worth about $34,000. Finally, Brooklyn Investment Group grew its position in shares of PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after acquiring an additional 405 shares during the period. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Company Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.