PDD Sees Unusually High Options Volume (NASDAQ:PDD)

PDD Holdings Inc. (NASDAQ:PDD) was the recipient of unusually large options trading on Monday. Traders purchased 225,635 call options on the stock. This is an increase of approximately 38% compared to the average daily volume of 163,825 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Prospera Private Wealth LLC bought a new stake in PDD during the third quarter worth approximately $27,000. Venturi Wealth Management LLC bought a new stake in PDD in the third quarter worth $29,000. Ashton Thomas Private Wealth LLC purchased a new position in PDD during the second quarter worth $32,000. Richardson Financial Services Inc. increased its position in PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after acquiring an additional 233 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of PDD in the third quarter valued at $34,000. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Up 10.5 %

NASDAQ PDD opened at $110.33 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD has a 12 month low of $88.01 and a 12 month high of $164.69. The stock’s 50 day moving average is $120.76 and its 200 day moving average is $126.29. The stock has a market cap of $151.80 billion, a PE ratio of 10.77, a P/E/G ratio of 0.29 and a beta of 0.67.

Analysts Set New Price Targets

PDD has been the topic of several recent analyst reports. Nomura Securities raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Bank of America dropped their price target on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $126.00 to $224.00 in a research report on Monday, October 7th. Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and cut their target price for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Finally, Daiwa America raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

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.