PDD (NASDAQ:PDD) Hits New 52-Week Low – Time to Sell?

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) reached a new 52-week low on Wednesday . The stock traded as low as $75.70 and last traded at $76.56, with a volume of 9080078 shares changing hands. The stock had previously closed at $78.11.

Analyst Ratings Changes

A number of analysts have issued reports on PDD shares. Morgan Stanley set a $129.00 price target on shares of PDD in a research note on Wednesday, May 27th. Sanford C. Bernstein lowered their price objective on shares of PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, May 27th. Benchmark dropped their price objective on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a report on Thursday, May 28th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Finally, Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Friday, April 17th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, PDD has a consensus rating of “Hold” and a consensus target price of $124.64.

PDD Trading Down 2.0%

The company has a market cap of $108.98 billion, a PE ratio of 8.27, a P/E/G ratio of 0.62 and a beta of -0.02. The company has a fifty day simple moving average of $92.37 and a two-hundred day simple moving average of $101.51.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). The company had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.57 earnings per share. On average, research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

Institutional Trading of PDD

Institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC boosted its position in shares of PDD by 45.4% during the 1st quarter. Parallel Advisors LLC now owns 4,523 shares of the company’s stock worth $462,000 after acquiring an additional 1,413 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of PDD by 2.9% during the 1st quarter. NewEdge Advisors LLC now owns 4,677 shares of the company’s stock worth $478,000 after acquiring an additional 134 shares in the last quarter. Oaktree Capital Management LP purchased a new stake in shares of PDD during the 1st quarter worth approximately $493,000. RBF Capital LLC purchased a new position in shares of PDD in the 1st quarter valued at $2,044,000. Finally, H&H International Investment LLC raised its stake in PDD by 71.2% during the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after acquiring an additional 8,211,600 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Company Profile

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.