PDD (NASDAQ:PDD) Sees Unusually-High Trading Volume

PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) saw strong trading volume on Tuesday . 4,955,681 shares were traded during mid-day trading, a decline of 40% from the previous session's volume of 8,265,528 shares.The stock last traded at $126.49 and had previously closed at $124.14.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group cut PDD from a "buy" rating to a "neutral" rating and set a $136.00 price target for the company. in a research report on Monday, March 11th. Citigroup raised their price target on PDD from $170.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. Barclays raised their price target on PDD from $164.00 to $178.00 and gave the company an "overweight" rating in a research report on Thursday, March 21st. Jefferies Financial Group raised their price target on PDD from $157.00 to $161.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. Finally, Benchmark lifted their price objective on PDD from $215.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $146.85.

PDD Stock Up 3.1 %

The firm has a 50-day moving average of $122.17 and a 200 day moving average of $126.24. The stock has a market capitalization of $168.93 billion, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping the consensus estimate of $1.42 by $0.81. PDD had a return on equity of 39.10% and a net margin of 24.23%. The firm had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. On average, sell-side analysts anticipate that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

Institutional Investors Weigh In On PDD

Several hedge funds and other institutional investors have recently bought and sold shares of PDD. CWM LLC increased its holdings in shares of PDD by 22.7% in the 3rd quarter. CWM LLC now owns 758 shares of the company's stock valued at $74,000 after acquiring an additional 140 shares during the last quarter. AE Wealth Management LLC acquired a new stake in PDD in the third quarter worth $542,000. Onyx Bridge Wealth Group LLC acquired a new stake in PDD in the third quarter worth $410,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new stake in PDD in the third quarter worth $11,768,000. Finally, PDS Planning Inc acquired a new stake in PDD in the third quarter worth $217,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

About PDD

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.