PDD Sees Unusually Large Options Volume (NASDAQ:PDD)

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) saw unusually large options trading activity on Tuesday. Traders purchased 70,014 call options on the company. This represents an increase of 19% compared to the typical daily volume of 58,593 call options.

Institutional Trading of PDD

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after purchasing an additional 238 shares during the last quarter. Binnacle Investments Inc lifted its position in PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in PDD by 230.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after purchasing an additional 263 shares during the last quarter. Wexford Capital LP bought a new stake in PDD in the 3rd quarter valued at about $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in PDD in the 4th quarter valued at about $44,000. 39.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Friday, April 17th. Citigroup restated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Nomura upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target on the stock in a research report on Friday, March 27th. Finally, Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $137.86.

PDD Trading Up 3.1%

NASDAQ:PDD traded up $2.93 during mid-day trading on Tuesday, hitting $97.45. The stock had a trading volume of 5,390,822 shares, compared to its average volume of 7,721,801. The stock has a market capitalization of $138.71 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 0.89 and a beta of 0.04. The company has a 50 day simple moving average of $99.59 and a 200-day simple moving average of $107.55. PDD has a 52 week low of $92.57 and a 52 week high of $139.41.

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.