PDD (NASDAQ:PDD) Shares Gap Down – Should You Sell?

PDD Holdings Inc. (NASDAQ:PDD) gapped down prior to trading on Wednesday . The stock had previously closed at $114.05, but opened at $108.99. PDD shares last traded at $111.95, with a volume of 3,720,929 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PDD shares. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Jefferies Financial Group dropped their price objective on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Benchmark dropped their price objective on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $173.40.

PDD Price Performance

The stock has a 50 day simple moving average of $102.04 and a two-hundred day simple moving average of $114.78. The firm has a market cap of $151.77 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 0.29 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Institutional Investors Weigh In On PDD

Several institutional investors have recently bought and sold shares of PDD. Prospera Private Wealth LLC acquired a new position in shares of PDD during the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC acquired a new position in shares of PDD during the 3rd quarter worth approximately $29,000. Future Financial Wealth Managment LLC acquired a new position in shares of PDD during the 3rd quarter worth approximately $34,000. Nisa Investment Advisors LLC purchased a new stake in shares of PDD during the 4th quarter valued at approximately $39,000. Finally, Brooklyn Investment Group raised its position in shares of PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after buying an additional 405 shares during the period. 39.83% of the stock is currently 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.