PDD Target of Unusually Large Options Trading (NASDAQ:PDD)

PDD Holdings Inc. (NASDAQ:PDD) saw unusually large options trading on Wednesday. Stock investors acquired 126,587 call options on the stock. This is an increase of 35% compared to the average volume of 93,926 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PDD shares. Benchmark reduced their price objective on PDD from $160.00 to $128.00 and set a “buy” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $112.00 price objective on shares of PDD in a research note on Wednesday. Jefferies Financial Group reduced their price objective on PDD from $156.00 to $121.00 and set a “buy” rating on the stock in a research note on Tuesday. Citigroup raised PDD from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $127.00 to $165.00 in a research note on Monday, May 12th. Finally, China Renaissance reissued a “hold” rating and set a $107.00 price objective on shares of PDD in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $144.55.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in PDD in the first quarter worth approximately $26,000. Nisa Investment Advisors LLC bought a new position in PDD in the fourth quarter worth approximately $39,000. IFP Advisors Inc grew its stake in PDD by 245.8% in the first quarter. IFP Advisors Inc now owns 408 shares of the company’s stock worth $48,000 after purchasing an additional 290 shares in the last quarter. Global Retirement Partners LLC grew its stake in PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after purchasing an additional 498 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Trading Down 4.8%

NASDAQ:PDD traded down $4.96 during midday trading on Wednesday, hitting $98.02. The stock had a trading volume of 13,331,376 shares, compared to its average volume of 11,059,354. PDD has a one year low of $87.11 and a one year high of $160.00. The company has a market capitalization of $136.46 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 0.32 and a beta of 0.57. The stock has a 50-day moving average of $108.66 and a 200 day moving average of $109.11. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.