PDD Sees Unusually Large Options Volume (NASDAQ:PDD)

PDD Holdings Inc. (NASDAQ:PDD) saw some unusual options trading on Monday. Investors acquired 225,635 call options on the stock. This represents an increase of 38% compared to the typical volume of 163,825 call options.

PDD Trading Up 12.5 %

NASDAQ PDD traded up $12.50 on Monday, reaching $112.39. The stock had a trading volume of 17,441,940 shares, compared to its average volume of 10,693,035. PDD has a 12-month low of $88.01 and a 12-month high of $164.69. The stock has a fifty day moving average price of $121.25 and a two-hundred day moving average price of $126.60. The firm has a market capitalization of $154.63 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 0.29 and a beta of 0.67. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Jefferies Financial Group reduced their target price on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Benchmark dropped their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, PDD currently has a consensus rating of “Moderate Buy” and an average target price of $173.40.

Hedge Funds Weigh In On PDD

Several institutional investors have recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new stake in shares of PDD during the third quarter worth approximately $27,000. Venturi Wealth Management LLC acquired a new position in shares of PDD during the third quarter worth $29,000. Ashton Thomas Private Wealth LLC acquired a new stake in PDD in the second quarter valued at $32,000. Richardson Financial Services Inc. boosted its position in shares of PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after acquiring an additional 233 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of PDD during the 3rd quarter worth about $34,000. 39.83% of the stock is owned by institutional investors and hedge funds.

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.