PDD (NASDAQ:PDD) Sees Unusually-High Trading Volume

Shares of PDD Holdings Inc. (NASDAQ:PDD) saw an uptick in trading volume on Tuesday . 4,955,681 shares changed hands during trading, a decline of 40% from the previous session’s volume of 8,265,528 shares.The stock last traded at $126.49 and had previously closed at $124.14.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PDD shares. Jefferies Financial Group raised their price target on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Citigroup lifted their target price on shares of PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. lowered their target price on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Barclays lifted their target price on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group cut shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 target price for the company. in a research note on Monday, March 11th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PDD presently has an average rating of “Moderate Buy” and an average target price of $146.85.

PDD Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 1.93. The firm’s 50 day simple moving average is $122.17 and its 200-day simple moving average is $126.24. The company has a market cap of $169.30 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 0.29 and a beta of 0.67.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.81. The firm had revenue of $12.52 billion for the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a net margin of 24.23% and a return on equity of 39.10%. On average, sell-side analysts predict that PDD Holdings Inc. will post 7.85 EPS for the current year.

Institutional Trading of PDD

Several institutional investors and hedge funds have recently bought and sold shares of PDD. CWM LLC raised its holdings in PDD by 22.7% in the 3rd quarter. CWM LLC now owns 758 shares of the company’s stock valued at $74,000 after buying an additional 140 shares during the period. AE Wealth Management LLC purchased a new stake in PDD during the third quarter worth about $542,000. Onyx Bridge Wealth Group LLC purchased a new stake in PDD during the third quarter worth about $410,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV purchased a new stake in PDD during the third quarter worth about $11,768,000. Finally, PDS Planning Inc purchased a new stake in PDD during the third quarter worth about $217,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

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.