PDD (NASDAQ:PDD) Sets New 12-Month Low – Should You Sell?

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PDD shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Benchmark cut their price objective on shares of PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a research report on Thursday, May 28th. Morgan Stanley set a $129.00 target price on shares of PDD in a research note on Wednesday, May 27th. Sanford C. Bernstein decreased their target price on shares of PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, May 27th. Finally, Citigroup dropped their price target on shares of PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.33.

PDD Stock Performance

The company has a market cap of $115.90 billion, a P/E ratio of 8.80, a P/E/G ratio of 0.86 and a beta of -0.02. The firm has a 50 day moving average price of $96.48 and a 200-day moving average price of $104.00.

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

Institutional Trading of PDD

A number of institutional investors and hedge funds have recently modified their holdings of PDD. Parallel Advisors LLC boosted its holdings 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 buying an additional 1,413 shares during the period. NewEdge Advisors LLC lifted its position in 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 during the last quarter. Oaktree Capital Management LP acquired a new position in PDD during the 1st quarter worth $493,000. RBF Capital LLC bought a new stake in PDD during the first quarter valued at about $2,044,000. Finally, H&H International Investment LLC boosted its holdings in PDD by 71.2% during the first quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock valued at $2,017,881,000 after acquiring an additional 8,211,600 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

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.