PDD (NASDAQ:PDD) Shares Gap Down – Time to Sell?

PDD Holdings Inc. (NASDAQ:PDD)’s share price gapped down prior to trading on Monday . The stock had previously closed at $131.34, but opened at $125.16. PDD shares last traded at $120.25, with a volume of 7,254,930 shares traded.

Analyst Ratings Changes

Several equities research analysts have weighed in on PDD shares. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Jefferies Financial Group reduced their target price on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Benchmark dropped their target price on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $173.40.

PDD Stock Up 3.8 %

The business has a fifty day moving average of $107.86 and a 200 day moving average of $113.68. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market capitalization of $170.12 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 0.32 and a beta of 0.66.

Institutional Trading of PDD

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Prospera Private Wealth LLC purchased a new position in shares of PDD during the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC purchased a new position in shares of PDD in the 3rd quarter valued at about $29,000. Nisa Investment Advisors LLC acquired a new stake in PDD in the fourth quarter valued at $39,000. Avior Wealth Management LLC boosted its holdings in shares of PDD by 50.9% in the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after buying an additional 169 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after acquiring an additional 405 shares during the period. 39.83% of the stock is owned by institutional investors and hedge funds.

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.