PDD (NASDAQ:PDD) Sets New 12-Month Low – What’s Next?

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)’s share price reached a new 52-week low during trading 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.

Wall Street Analyst Weigh In

PDD has been the topic of several recent analyst reports. Nomura downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target for the company in a report on Friday, April 17th. Morgan Stanley set a $129.00 price objective on shares of PDD in a research note on Wednesday, May 27th. BNP Paribas Exane assumed coverage on shares of PDD in a report on Monday, June 15th. They set an “underperform” rating and a $89.00 price objective on the stock. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $124.64.

PDD Trading Down 3.2%

The firm has a market capitalization of $104.34 billion, a PE ratio of 7.92, a price-to-earnings-growth ratio of 0.60 and a beta of -0.02. The firm has a 50-day moving average of $91.29 and a two-hundred day moving average of $100.91.

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

Institutional Trading of PDD

A number of institutional investors and hedge funds have recently bought and sold shares of PDD. Binnacle Investments Inc lifted its position in PDD by 281.7% during the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after buying an additional 200 shares in the last quarter. GAMMA Investing LLC grew its stake in PDD by 595.0% during the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after buying an additional 238 shares during the period. Wexford Capital LP acquired a new stake in shares of PDD in the third quarter worth $44,000. Smartleaf Asset Management LLC raised its stake in shares of PDD by 230.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after acquiring an additional 263 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of PDD during the 4th quarter valued at $44,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

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.