PDD (NASDAQ:PDD) Sets New 12-Month Low – Here’s What Happened

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $81.42 and last traded at $81.1320, with a volume of 138599 shares changing hands. The stock had previously closed at $81.93.

Analyst Upgrades and Downgrades

PDD has been the topic of several recent research reports. Sanford C. Bernstein cut their price objective on shares of PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 27th. Morgan Stanley set a $129.00 price target on shares of PDD in a research report on Wednesday, May 27th. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Friday, April 17th. The Goldman Sachs Group restated a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Finally, Nomura downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.33.

PDD Trading Down 0.6%

The business’s fifty day moving average is $95.73 and its 200 day moving average is $103.55. The firm has a market capitalization of $115.72 billion, a P/E ratio of 8.78, a P/E/G ratio of 0.85 and a beta of -0.02.

PDD (NASDAQ:PDD) last released its earnings results on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). PDD had a return on equity of 24.32% and a net margin of 21.86%.The business had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.92 billion. During the same quarter in the previous year, the firm earned $1.57 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Binnacle Investments Inc increased its position in shares of PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC increased its position in shares of PDD by 595.0% in the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after acquiring an additional 238 shares in the last quarter. Wexford Capital LP purchased a new position in shares of PDD in the third quarter worth approximately $44,000. Smartleaf Asset Management LLC increased its position in shares of PDD by 230.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock worth $43,000 after acquiring an additional 263 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of PDD in the fourth quarter worth approximately $44,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

About PDD

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.