PDD (NASDAQ:PDD) Hits New 1-Year Low – What’s Next?

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) hit a new 52-week low on Wednesday . The company traded as low as $75.70 and last traded at $76.56, with a volume of 9080078 shares trading hands. The stock had previously closed at $78.11.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of research reports. Jefferies Financial Group restated a “buy” rating on shares of PDD in a research report on Wednesday, May 27th. BNP Paribas Exane initiated coverage on shares of PDD in a research report on Monday, June 15th. They issued an “underperform” rating and a $89.00 price target for the company. Daiwa Securities Group reiterated a “hold” rating and set a $80.00 price target on shares of PDD in a research note on Tuesday. Morgan Stanley set a $129.00 price target on shares of PDD in a research note on Wednesday, May 27th. Finally, Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Friday, April 17th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $124.64.

PDD Stock Performance

The business has a 50-day simple moving average of $92.37 and a two-hundred day simple moving average of $101.51. The company has a market capitalization of $108.98 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 0.62 and a beta of -0.02.

PDD (NASDAQ:PDD) last released its earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). The company had revenue of $15.41 billion during the quarter, compared to analyst estimates 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 previous year, the firm posted $1.57 EPS. Research analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

Hedge Funds Weigh In On PDD

A number of hedge funds and other institutional investors have recently bought and sold shares of PDD. Focus Partners Wealth increased its stake in PDD by 352.8% in the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after buying an additional 7,744 shares during the period. Intech Investment Management LLC lifted its stake in shares of PDD by 2.7% in the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock worth $1,762,000 after acquiring an additional 395 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of PDD by 62.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock valued at $174,000 after acquiring an additional 637 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of PDD by 2.0% in the second quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock valued at $2,061,000 after acquiring an additional 382 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in PDD by 0.3% during the second quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock worth $14,914,000 after purchasing an additional 369 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

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.