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

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $78.82 and last traded at $78.9450, with a volume of 2260905 shares changing hands. The stock had previously closed at $79.86.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of analyst reports. Morgan Stanley set a $129.00 target price on shares of PDD in a research note on Wednesday, May 27th. 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 report on Wednesday, May 27th. Benchmark reduced their price target on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. Jefferies Financial Group reiterated a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Finally, Sanford C. Bernstein lowered 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 note on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PDD has an average rating of “Hold” and an average price target of $128.08.

PDD Price Performance

The company has a market cap of $112.47 billion, a P/E ratio of 8.53, a PEG ratio of 0.65 and a beta of -0.02. The company has a fifty day simple moving average of $94.17 and a 200-day simple moving average of $102.62.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.40 by ($1.02). The company 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%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.57 earnings per share. On average, analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current year.

Hedge Funds Weigh In On PDD

A number of large investors have recently made changes to their positions in PDD. GAMMA Investing LLC boosted its holdings in shares of PDD by 595.0% during the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after purchasing an additional 238 shares during the period. Binnacle Investments Inc lifted its position in PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after buying an additional 200 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in PDD by 230.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock worth $43,000 after buying an additional 263 shares in the last quarter. Wexford Capital LP acquired a new stake in shares of PDD during the 3rd quarter valued at $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake 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.

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.