PDD Sees Unusually High Options Volume (NASDAQ:PDD)

PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) saw unusually large options trading activity on Wednesday. Traders acquired 126,587 call options on the stock. This is an increase of approximately 35% compared to the typical volume of 93,926 call options.

PDD Trading Down 1.6%

Shares of NASDAQ PDD traded down $1.56 during midday trading on Friday, reaching $96.73. 17,167,316 shares of the stock were exchanged, compared to its average volume of 11,108,733. The business has a 50-day simple moving average of $106.92 and a two-hundred day simple moving average of $108.76. The company has a market capitalization of $134.66 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 0.32 and a beta of 0.57. PDD has a 12 month low of $87.11 and a 12 month high of $155.67. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Analyst Ratings Changes

Several research firms have recently weighed in on PDD. Jefferies Financial Group set a $121.00 price objective on shares of PDD and gave the stock a "buy" rating in a report on Tuesday, May 27th. Barclays reissued an "equal weight" rating on shares of PDD in a research note on Sunday. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $112.00 price target on shares of PDD in a research note on Wednesday. Nomura reissued a "neutral" rating and set a $130.00 price target (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Finally, Benchmark decreased their price target on shares of PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $144.55.

Hedge Funds Weigh In On PDD

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management acquired a new stake in shares of PDD during the first quarter worth $26,000. Nisa Investment Advisors LLC acquired a new stake in shares of PDD during the fourth quarter worth $39,000. IFP Advisors Inc raised its holdings in shares of PDD by 245.8% during the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock worth $48,000 after acquiring an additional 290 shares during the period. Global Retirement Partners LLC raised its holdings in shares of PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after acquiring an additional 498 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after acquiring an additional 132 shares during the period. 39.83% of the stock is owned by institutional investors.

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.