PDD (NASDAQ:PDD) Sets New 52-Week Low – Time to Sell?

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $78.82 and last traded at $78.9450, with a volume of 2260905 shares. The stock had previously closed at $79.86.

Analyst Ratings Changes

PDD has been the topic of several research reports. Citigroup lowered their price target on shares of PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. BNP Paribas Exane assumed coverage on shares of PDD in a research report on Monday. They set an “underperform” rating and a $89.00 target price on the stock. Jefferies Financial Group restated a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Nomura downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $128.08.

PDD Stock Performance

The firm has a fifty day moving average of $94.17 and a 200-day moving average of $102.62. The stock has a market capitalization of $112.47 billion, a price-to-earnings ratio of 8.53, a P/E/G ratio of 0.65 and a beta of -0.02.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.40 by ($1.02). PDD had a net margin of 21.86% and a return on equity of 24.32%. The company had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.92 billion. During the same quarter in the previous year, the business posted $1.57 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Parallel Advisors LLC raised its position in shares of PDD by 45.4% in the 1st quarter. Parallel Advisors LLC now owns 4,523 shares of the company’s stock valued at $462,000 after purchasing an additional 1,413 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in PDD by 2.9% during the 1st quarter. NewEdge Advisors LLC now owns 4,677 shares of the company’s stock worth $478,000 after buying an additional 134 shares during the last quarter. Oaktree Capital Management LP bought a new stake in shares of PDD in the 1st quarter valued at approximately $493,000. RBF Capital LLC acquired a new position in PDD in the first quarter worth $2,044,000. Finally, H&H International Investment LLC raised its holdings in shares of PDD by 71.2% during the first quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after purchasing an additional 8,211,600 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

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.