PDD Sees Unusually High Options Volume (NASDAQ:PDD)

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) saw unusually large options trading activity on Monday. Traders purchased 44,077 call options on the company. This is an increase of 33% compared to the average daily volume of 33,086 call options.

PDD Stock Performance

PDD stock traded down $0.67 during midday trading on Tuesday, hitting $81.01. 725,471 shares of the company were exchanged, compared to its average volume of 7,583,483. The firm has a market capitalization of $115.31 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 0.61 and a beta of -0.05. PDD has a fifty-two week low of $71.94 and a fifty-two week high of $139.12. The business has a fifty day simple moving average of $80.16 and a two-hundred day simple moving average of $91.02.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Friday, August 14th. The company reported $2.84 earnings per share (EPS) for the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%. The company had revenue of $16.54 billion during the quarter. As a group, equities analysts expect that PDD will post 10.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on PDD shares. Zacks Research upgraded shares of PDD from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Benchmark cut their price objective on shares of PDD from $127.00 to $114.00 and set a “buy” rating on the stock in a research note on Tuesday, August 25th. Arete Research cut shares of PDD from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a report on Monday, September 7th. Deutsche Bank Aktiengesellschaft upgraded shares of PDD from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Bank of America restated a “neutral” rating on shares of PDD in a research report on Wednesday, August 26th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $110.31.

Hedge Funds Weigh In On PDD

Institutional investors have recently made changes to their positions in the company. Grove Bank & Trust purchased a new stake in PDD during the second quarter worth $38,000. Integrated Wealth Concepts LLC purchased a new position in PDD in the second quarter valued at $52,000. Ramsey Quantitative Systems acquired a new position in shares of PDD in the second quarter worth about $53,000. GK Wealth Management LLC acquired a new position in shares of PDD in the third quarter worth about $55,000. Finally, FNY Investment Advisers LLC raised its position in shares of PDD by 166.7% in the second quarter. FNY Investment Advisers LLC now owns 1,600 shares of the company’s stock worth $122,000 after acquiring an additional 1,000 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Company Profile

PDD Holdings Inc is a multinational commerce group that operates online marketplace platforms connecting consumers with merchants, manufacturers and agricultural producers. The company’s platforms use interactive shopping features, including group purchasing and personalized product discovery, to offer a broad range of merchandise at competitive prices.

PDD Holdings’ businesses include Pinduoduo, an e-commerce platform serving consumers in China, and Temu, an online marketplace launched in 2022 that serves consumers across multiple international markets, including North America, Europe and other regions.