PDD (NASDAQ:PDD) Hits New 1-Year Low – Should You Sell?

PDD Holdings Inc. (NASDAQ:PDD) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $87.11 and last traded at $88.35, with a volume of 22416665 shares traded. The stock had previously closed at $94.15.

Analysts Set New Price Targets

Several research firms have recently issued reports on PDD. JPMorgan Chase & Co. boosted their target price on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Jefferies Financial Group lowered their price target on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Benchmark reissued a “buy” rating and set a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Nomura reaffirmed a “neutral” rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Finally, Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $169.91.

PDD Trading Up 2.4 %

The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average of $116.61 and a two-hundred day moving average of $114.38. The firm has a market cap of $124.52 billion, a P/E ratio of 8.84, a PEG ratio of 0.32 and a beta of 0.73.

Institutional Investors Weigh In On PDD

Several hedge funds have recently bought and sold shares of PDD. Nisa Investment Advisors LLC bought a new stake in shares of PDD in the fourth quarter valued at about $39,000. Brooklyn Investment Group boosted its holdings in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after purchasing an additional 405 shares during the period. Global Retirement Partners LLC grew its position in shares of PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after purchasing an additional 498 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after buying an additional 249 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

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.