Pinduoduo Inc (NASDAQ:PDD) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 26,700,000 shares, an increase of 6.8% from the September 30th total of 24,990,000 shares. Based on an average trading volume of 7,730,000 shares, the short-interest ratio is presently 3.5 days. Approximately 4.2% of the shares of the stock are sold short.
A number of large investors have recently modified their holdings of PDD. WINTON GROUP Ltd acquired a new stake in Pinduoduo in the 2nd quarter worth about $219,000. Growth Interface Management LLC acquired a new position in shares of Pinduoduo in the 2nd quarter valued at about $15,266,000. Xact Kapitalforvaltning AB acquired a new position in shares of Pinduoduo in the 2nd quarter valued at about $1,238,000. Altfest L J & Co. Inc. lifted its stake in shares of Pinduoduo by 33.3% in the 2nd quarter. Altfest L J & Co. Inc. now owns 27,426 shares of the company’s stock valued at $758,000 after purchasing an additional 6,858 shares in the last quarter. Finally, H&H International Investment LLC lifted its stake in shares of Pinduoduo by 26.4% in the 2nd quarter. H&H International Investment LLC now owns 467,767 shares of the company’s stock valued at $9,650,000 after purchasing an additional 97,767 shares in the last quarter. 13.70% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on PDD. 86 Research reaffirmed a “sell” rating on shares of Pinduoduo in a research note on Tuesday, August 6th. Bank of America increased their price objective on Pinduoduo from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Nomura began coverage on Pinduoduo in a research note on Wednesday, October 9th. They set a “neutral” rating and a $34.00 price objective on the stock. Zacks Investment Research raised Pinduoduo from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Friday, November 8th. Finally, Benchmark increased their price objective on Pinduoduo from $28.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $34.22.
NASDAQ:PDD traded down $1.25 during mid-day trading on Monday, reaching $41.51. The company’s stock had a trading volume of 8,169,100 shares, compared to its average volume of 7,342,994. The company’s fifty day simple moving average is $37.43 and its two-hundred day simple moving average is $27.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.77 and a quick ratio of 1.77. Pinduoduo has a twelve month low of $18.46 and a twelve month high of $45.25. The stock has a market cap of $46.03 billion, a P/E ratio of -20.76 and a beta of 1.49.
Pinduoduo (NASDAQ:PDD) last issued its quarterly earnings results on Wednesday, August 21st. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.13. Pinduoduo had a negative return on equity of 28.55% and a negative net margin of 30.74%. The firm had revenue of $7.29 billion for the quarter, compared to analyst estimates of $6.15 billion. The firm’s revenue was up 169.1% on a year-over-year basis. Sell-side analysts expect that Pinduoduo will post -0.64 EPS for the current fiscal year.
Pinduoduo Company Profile
Pinduoduo Inc operates an e-commerce platform in the People's Republic of China. It also operates Pinduoduo, a mobile platform that offers a range of priced merchandise. The company was formerly known as Walnut Street Group Holding Limited and changed its name to Pinduoduo Inc in July 2018. Pinduoduo Inc was founded in 2015 and is based in Shanghai, the People's Republic of China.
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