Pinduoduo (PDD) Shares Gap Up to $25.95

Pinduoduo Inc (NASDAQ:PDD)’s share price gapped up before the market opened on Monday . The stock had previously closed at $25.12, but opened at $25.95. Pinduoduo shares last traded at $26.74, with a volume of 13400099 shares changing hands.

Several equities analysts have commented on the stock. HSBC assumed coverage on shares of Pinduoduo in a research note on Friday, February 1st. They set a “hold” rating on the stock. Morgan Stanley began coverage on shares of Pinduoduo in a research note on Wednesday, January 16th. They issued an “overweight” rating and a $29.00 price objective on the stock. Finally, Credit Suisse Group set a $26.00 price objective on shares of Pinduoduo and gave the stock a “buy” rating in a research note on Wednesday, November 21st.

Pinduoduo (NASDAQ:PDD) last released its earnings results on Tuesday, November 20th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.08. The firm had revenue of $491.03 million during the quarter. On average, research analysts expect that Pinduoduo Inc will post -2 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. Enlightenment Research LLC acquired a new stake in shares of Pinduoduo during the fourth quarter worth approximately $54,000. FNY Investment Advisers LLC acquired a new stake in Pinduoduo in the fourth quarter valued at approximately $224,000. Granite Point Capital Management L.P. acquired a new stake in Pinduoduo in the third quarter valued at approximately $263,000. Raymond James & Associates acquired a new stake in Pinduoduo in the fourth quarter valued at approximately $364,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new stake in Pinduoduo in the third quarter valued at approximately $546,000. Institutional investors and hedge funds own 6.31% of the company’s stock.

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Pinduoduo Company Profile (NASDAQ:PDD)

Pinduoduo Inc operates an e-commerce platform in the People's Republic of China. It also operates Pinduoduo, a mobile platform that offers a range of priced merchandise. The company was formerly known as Walnut Street Group Holding Limited and changed its name to Pinduoduo Inc in July 2018. Pinduoduo Inc was founded in 2015 and is based in Shanghai, the People's Republic of China.

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