Pinduoduo (NASDAQ:PDD) Trading Down 5.2%

Pinduoduo Inc. (NASDAQ:PDD) dropped 5.2% during mid-day trading on Thursday . The company traded as low as $92.31 and last traded at $92.52. Approximately 201,924 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 7,734,955 shares. The stock had previously closed at $97.58.

PDD has been the subject of a number of research analyst reports. Citigroup decreased their target price on Pinduoduo from $168.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, August 25th. Bank of America upped their target price on Pinduoduo from $143.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, August 25th. TheStreet raised Pinduoduo from a “d” rating to a “c” rating in a research report on Monday, September 27th. Zacks Investment Research raised Pinduoduo from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Friday, September 3rd. Finally, China Renaissance Securities raised Pinduoduo from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Friday, August 6th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $159.27.

The company has a 50 day simple moving average of $93.85 and a 200 day simple moving average of $112.80. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $115.68 billion, a PE ratio of -271.06 and a beta of 1.43.

Pinduoduo (NASDAQ:PDD) last posted its quarterly earnings data on Monday, August 23rd. The company reported $2.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $3.07. The firm had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $26.53 billion. Pinduoduo had a negative return on equity of 3.82% and a negative net margin of 3.02%. The firm’s quarterly revenue was up 89.0% on a year-over-year basis. On average, equities research analysts predict that Pinduoduo Inc. will post 0.63 EPS for the current year.

Several hedge funds have recently modified their holdings of PDD. Cambridge Investment Research Advisors Inc. raised its stake in shares of Pinduoduo by 32.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,547 shares of the company’s stock worth $207,000 after buying an additional 375 shares in the last quarter. Toronto Dominion Bank increased its stake in Pinduoduo by 15.9% in the 1st quarter. Toronto Dominion Bank now owns 891 shares of the company’s stock valued at $119,000 after purchasing an additional 122 shares in the last quarter. Norinchukin Bank The increased its stake in Pinduoduo by 66.9% in the 1st quarter. Norinchukin Bank The now owns 3,374 shares of the company’s stock valued at $452,000 after purchasing an additional 1,353 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in Pinduoduo in the 1st quarter valued at approximately $59,343,000. Finally, Panagora Asset Management Inc. increased its stake in Pinduoduo by 1.3% in the 1st quarter. Panagora Asset Management Inc. now owns 47,773 shares of the company’s stock valued at $6,396,000 after purchasing an additional 609 shares in the last quarter. 19.82% of the stock is owned by institutional investors and hedge funds.

About Pinduoduo (NASDAQ:PDD)

Pinduoduo, Inc operates as a holding company, which engages in the development and management of an e-commerce platform. Its Pinduoduo mobile application offers a selection of merchandise for buyer acquisition and engagement. The company was founded by Hua Lin Cai and Zheng Huang on April 20, 2015 and is headquartered in Shanghai, China.

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