PDD Holdings Inc. (NASDAQ:PDD) Short Interest Down 16.6% in December

PDD Holdings Inc. (NASDAQ:PDD) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 23,850,000 shares, a decline of 16.6% from the December 15th total of 28,600,000 shares. Based on an average daily volume of 10,190,000 shares, the days-to-cover ratio is currently 2.3 days.

PDD Trading Up 5.3 %

NASDAQ PDD traded up $5.31 on Friday, reaching $105.57. The company had a trading volume of 12,382,687 shares, compared to its average volume of 6,902,458. PDD has a 52 week low of $88.01 and a 52 week high of $164.69. The stock’s 50 day moving average is $102.37 and its 200-day moving average is $117.33. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a market cap of $145.25 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 0.25 and a beta of 0.66.

Analyst Ratings Changes

A number of analysts have recently weighed in on PDD shares. Benchmark lowered their target price on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group lowered their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and raised their price target for the company from $126.00 to $224.00 in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, PDD presently has an average rating of “Moderate Buy” and an average price target of $173.40.

Institutional Trading of PDD

Institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. increased its position in shares of PDD by 2.8% in the 3rd quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company’s stock valued at $4,868,859,000 after buying an additional 988,042 shares in the last quarter. FMR LLC grew its stake in PDD by 8.6% in the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after acquiring an additional 1,654,764 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of PDD by 1,374.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after acquiring an additional 12,253,589 shares in the last quarter. Tairen Capital Ltd raised its position in shares of PDD by 49.8% during the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after purchasing an additional 1,788,076 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of PDD by 13.0% during the 2nd quarter. Legal & General Group Plc now owns 5,332,414 shares of the company’s stock valued at $708,944,000 after purchasing an additional 612,119 shares in the last quarter. 39.83% of the stock is owned by institutional investors.

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.