PDD Holdings Inc. (NASDAQ:PDD) Short Interest Down 16.6% in February

PDD Holdings Inc. (NASDAQ:PDD) was the recipient of a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 23,860,000 shares, a drop of 16.6% from the January 31st total of 28,600,000 shares. Based on an average daily volume of 9,970,000 shares, the short-interest ratio is presently 2.4 days.

Analysts Set New Price Targets

PDD has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Benchmark lowered their target price 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, Jefferies Financial Group reduced their price target on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.40.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PDD. Siemens Fonds Invest GmbH bought a new stake in shares of PDD during the 4th quarter valued at $192,000. Mackenzie Financial Corp grew its stake in shares of PDD by 20.0% in the 4th quarter. Mackenzie Financial Corp now owns 244,609 shares of the company’s stock worth $23,725,000 after buying an additional 40,732 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in PDD during the 4th quarter valued at approximately $128,493,000. Vise Technologies Inc. raised its stake in PDD by 304.4% during the fourth quarter. Vise Technologies Inc. now owns 9,280 shares of the company’s stock valued at $900,000 after buying an additional 6,985 shares during the last quarter. Finally, Sylebra Capital LLC boosted its holdings in PDD by 33.4% in the fourth quarter. Sylebra Capital LLC now owns 656,751 shares of the company’s stock worth $63,698,000 after acquiring an additional 164,585 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Trading Up 6.8 %

Shares of PDD traded up $7.70 during trading hours on Wednesday, reaching $121.11. 6,535,527 shares of the company traded hands, compared to its average volume of 8,812,541. PDD has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a market capitalization of $166.63 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The company’s fifty day moving average price is $109.38 and its two-hundred day moving average price is $112.66. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

About PDD

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.