PDD Sees Unusually Large Options Volume (NASDAQ:PDD)

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) saw unusually large options trading on Thursday. Stock traders bought 137,643 put options on the company. This represents an increase of 83% compared to the average volume of 75,147 put options.

Analyst Ratings Changes

PDD has been the subject of several recent research reports. Bank of America dropped their price objective on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Arete downgraded PDD from a “buy” rating to a “neutral” rating and set a $130.00 target price for the company. in a research report on Tuesday, December 9th. Morgan Stanley set a $148.00 target price on PDD in a report on Thursday. Loop Capital set a $170.00 price target on PDD in a research report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PDD has a consensus rating of “Hold” and a consensus price target of $139.25.

PDD Stock Down 0.4%

Shares of PDD traded down $0.41 during trading on Thursday, reaching $107.44. The company’s stock had a trading volume of 9,622,452 shares, compared to its average volume of 10,926,117. The company has a market cap of $149.57 billion, a price-to-earnings ratio of 11.22, a P/E/G ratio of 1.05 and a beta of 0.02. The company has a fifty day moving average of $118.01 and a two-hundred day moving average of $120.65. PDD has a twelve month low of $87.11 and a twelve month high of $139.41.

Hedge Funds Weigh In On PDD

Several large investors have recently modified their holdings of PDD. Westside Investment Management Inc. lifted its holdings in PDD by 398.0% during the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after buying an additional 199 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of PDD during the 2nd quarter valued at approximately $28,000. Binnacle Investments Inc lifted its stake in PDD by 281.7% during the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC increased its stake in PDD by 595.0% during the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after purchasing an additional 238 shares during the last quarter. Finally, Wexford Capital LP bought a new position in shares of PDD in the 3rd quarter worth about $44,000. Institutional investors own 39.83% of the company’s stock.

PDD Company Profile

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.