PDD Holdings Inc. (NASDAQ:PDD) Short Interest Update

PDD Holdings Inc. (NASDAQ:PDD) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 23,850,000 shares, a drop of 16.6% from the December 15th total of 28,600,000 shares. Based on an average daily trading volume, of 10,190,000 shares, the short-interest ratio is currently 2.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in PDD by 1,374.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after purchasing an additional 12,253,589 shares during the last quarter. H&H International Investment LLC grew its stake in shares of PDD by 3,693.8% in the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after buying an additional 3,804,600 shares during the period. Tairen Capital Ltd increased its holdings in shares of PDD by 49.8% during the 2nd quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after buying an additional 1,788,076 shares during the last quarter. FMR LLC raised its position in shares of PDD by 8.6% during the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after buying an additional 1,654,764 shares during the period. Finally, Dragoneer Investment Group LLC lifted its holdings in PDD by 142.6% in the second quarter. Dragoneer Investment Group LLC now owns 2,620,838 shares of the company’s stock valued at $348,440,000 after acquiring an additional 1,540,346 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PDD. Jefferies Financial Group dropped their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Benchmark cut their price objective on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD Trading Down 0.4 %

PDD stock traded down $0.44 during trading on Thursday, reaching $100.26. 5,800,463 shares of the company were exchanged, compared to its average volume of 6,734,516. The stock’s 50 day simple moving average is $103.13 and its two-hundred day simple moving average is $117.64. The company has a market capitalization of $137.95 billion, a P/E ratio of 9.79, a PEG ratio of 0.25 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD has a 52-week low of $88.01 and a 52-week high of $164.69.

PDD Company Profile

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.