Short Interest in PDD Holdings Inc. (NASDAQ:PDD) Declines By 16.6%

PDD Holdings Inc. (NASDAQ:PDD) was the target of a large drop in short interest during 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 trading volume, of 9,970,000 shares, the short-interest ratio is currently 2.4 days.

PDD Price Performance

Shares of NASDAQ PDD traded down $0.82 during midday trading on Thursday, hitting $119.39. The stock had a trading volume of 5,361,555 shares, compared to its average volume of 8,796,171. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $109.79 and a 200-day simple moving average of $112.72. The company has a market capitalization of $164.27 billion, a PE ratio of 11.70, a P/E/G ratio of 0.32 and a beta of 0.69. PDD has a 1 year low of $88.01 and a 1 year high of $164.69.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in PDD in the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC purchased a new stake in shares of PDD in the third quarter valued at approximately $29,000. Nisa Investment Advisors LLC acquired a new stake in shares of PDD in the fourth quarter valued at approximately $39,000. Brooklyn Investment Group lifted its position in PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after buying an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PDD. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Benchmark lowered their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Finally, Jefferies Financial Group lowered their target price 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. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

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.