PDD (NASDAQ:PDD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PDD (NASDAQ:PDD) from a hold rating to a buy rating in a research note published on Friday.

Several other research analysts also recently commented on PDD. Zacks Research downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Bank of America lowered their price target on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Loop Capital set a $170.00 price objective on shares of PDD in a research note on Tuesday, January 6th. Citigroup reaffirmed a “buy” rating on shares of PDD in a report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $139.87.

PDD Price Performance

PDD stock opened at $106.38 on Friday. The firm has a market capitalization of $148.10 billion, a P/E ratio of 11.10, a PEG ratio of 0.99 and a beta of 0.02. PDD has a one year low of $87.11 and a one year high of $139.41. The business has a fifty day moving average price of $113.90 and a 200-day moving average price of $120.84.

Institutional Trading of PDD

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Westside Investment Management Inc. lifted its holdings in shares of PDD by 398.0% during the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after acquiring an additional 199 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in PDD during the second quarter valued at about $28,000. GAMMA Investing LLC lifted its stake in PDD by 595.0% during the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after purchasing an additional 238 shares during the last quarter. Binnacle Investments Inc boosted its holdings in shares of PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after purchasing an additional 200 shares in the last quarter. Finally, Wexford Capital LP purchased a new position in shares of PDD in the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

About PDD

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.