PDD (NASDAQ:PDD) Reaches New 1-Year Low – Here’s Why

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $93.81 and last traded at $94.9270, with a volume of 1675417 shares changing hands. The stock had previously closed at $95.58.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 target price on the stock in a report on Friday, March 27th. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Friday, April 17th. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Finally, Morgan Stanley set a $148.00 price target on PDD in a research note on Thursday, January 15th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, PDD currently has an average rating of “Hold” and an average price target of $137.86.

PDD Price Performance

The firm has a market cap of $135.67 billion, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 0.94 and a beta of 0.04. The company’s 50-day simple moving average is $100.45 and its 200 day simple moving average is $109.53.

Institutional Investors Weigh In On PDD

Several large investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth increased its position in shares of PDD by 352.8% during the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after purchasing an additional 7,744 shares during the last quarter. Intech Investment Management LLC increased its position in PDD by 2.7% during the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after acquiring an additional 395 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of PDD by 62.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock valued at $174,000 after acquiring an additional 637 shares during the period. Cerity Partners LLC raised its stake in shares of PDD by 2.0% in the second quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock valued at $2,061,000 after acquiring an additional 382 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in PDD by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock valued at $14,914,000 after purchasing an additional 369 shares during the last quarter. 39.83% of the stock is owned by institutional investors.

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.