PDD Holdings Inc. (NASDAQ:PDD) Short Interest Update

PDD Holdings Inc. (NASDAQ:PDD) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 26,390,000 shares, a decrease of 20.0% from the October 15th total of 32,980,000 shares. Based on an average daily trading volume, of 16,040,000 shares, the short-interest ratio is currently 1.6 days.

Institutional Trading of PDD

Large investors have recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new stake in shares of PDD during the 3rd quarter valued at $27,000. Venturi Wealth Management LLC purchased a new position in PDD during the 3rd quarter valued at about $29,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of PDD during the second quarter valued at about $32,000. Richardson Financial Services Inc. lifted its holdings in shares of PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after buying an additional 233 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of PDD in the third quarter valued at approximately $34,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PDD. Nomura Securities upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Daiwa America raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Barclays lowered their price target on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, August 27th. Sanford C. Bernstein cut their price objective on shares of PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, August 27th. Finally, Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, PDD currently has a consensus rating of “Buy” and a consensus price target of $182.40.

PDD Price Performance

Shares of NASDAQ:PDD opened at $112.33 on Friday. PDD has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The company’s 50-day moving average is $120.78 and its 200 day moving average is $130.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. The company has a market capitalization of $154.55 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 0.27 and a beta of 0.71.

PDD (NASDAQ:PDD) last released its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The firm had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same period in the prior year, the firm earned $1.27 EPS. The company’s revenue was up 85.7% compared to the same quarter last year. On average, equities research analysts forecast that PDD will post 11.19 earnings per share for the current year.

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.