PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Given Consensus Rating of “Hold” by Analysts

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) have received an average recommendation of “Hold” from the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $137.8571.

A number of research firms recently commented on PDD. Nomura upgraded PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective on the stock in a report on Friday, March 27th. Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Citigroup restated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Finally, Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Friday, April 17th.

Hedge Funds Weigh In On PDD

Hedge funds have recently added to or reduced their stakes in the company. Binnacle Investments Inc increased its holdings in PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC increased its holdings in PDD by 595.0% in the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after buying an additional 238 shares during the last quarter. Wexford Capital LP acquired a new position in PDD in the third quarter worth approximately $44,000. Smartleaf Asset Management LLC increased its holdings in PDD by 230.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock worth $43,000 after buying an additional 263 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in PDD during the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

NASDAQ PDD opened at $94.52 on Tuesday. The company has a 50 day simple moving average of $99.73 and a 200-day simple moving average of $108.02. PDD has a 52-week low of $92.57 and a 52-week high of $139.41. The firm has a market capitalization of $134.54 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 0.89 and a beta of 0.04.

PDD Company Profile

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.