PDD (NASDAQ:PDD) Reaches New 52-Week Low – Should You Sell?

PDD Holdings Inc. (NASDAQ:PDD)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $87.11 and last traded at $88.35, with a volume of 22416665 shares changing hands. The stock had previously closed at $94.15.

Analyst Upgrades and Downgrades

PDD has been the topic of several research reports. Jefferies Financial Group decreased their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Benchmark restated a “buy” rating and issued a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Nomura reaffirmed a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Nomura Securities downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. increased their price objective on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $169.91.

PDD Price Performance

The company has a fifty day moving average of $117.42 and a 200-day moving average of $114.72. The stock has a market cap of $121.56 billion, a PE ratio of 8.63, a P/E/G ratio of 0.32 and a beta of 0.73. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp raised its stake in shares of PDD by 8.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $118,000 after acquiring an additional 97 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares during the last quarter. New York Life Investment Management LLC increased its position in shares of PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock worth $245,000 after purchasing an additional 139 shares in the last quarter. Cibc World Markets Corp lifted its holdings in shares of PDD by 1.1% in the 4th quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock valued at $1,435,000 after purchasing an additional 164 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Company Profile

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.