PDD (NASDAQ:PDD) Shares Gap Down – What’s Next?

PDD Holdings Inc. (NASDAQ:PDD)’s share price gapped down before the market opened on Monday . The stock had previously closed at $131.34, but opened at $125.16. PDD shares last traded at $120.25, with a volume of 7,254,930 shares traded.

Analyst Ratings Changes

PDD has been the topic of a number of analyst reports. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Jefferies Financial Group dropped their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Finally, Benchmark lowered their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Three equities research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $173.40.

PDD Price Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a 50-day moving average price of $107.12 and a 200-day moving average price of $113.94. The firm has a market capitalization of $164.62 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 0.32 and a beta of 0.66.

Institutional Investors Weigh In On PDD

Several institutional investors have recently added to or reduced their stakes in PDD. Gordian Capital Singapore Pte Ltd raised its position in PDD by 1,218.9% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after buying an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in PDD by 63.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock valued at $5,155,000 after buying an additional 14,905 shares during the last quarter. Maple Rock Capital Partners Inc. bought a new stake in PDD during the 3rd quarter worth about $74,221,000. M&G PLC lifted its position in PDD by 14.2% during the 3rd quarter. M&G PLC now owns 247,417 shares of the company’s stock worth $33,401,000 after buying an additional 30,817 shares in the last quarter. Finally, Headwater Capital Co Ltd acquired a new position in shares of PDD during the 4th quarter worth about $9,699,000. 39.83% of the stock is owned by institutional investors.

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.