Stock Traders Purchase High Volume of PDD Call Options (NASDAQ:PDD)

PDD Holdings Inc. (NASDAQ:PDD) was the recipient of some unusual options trading activity on Friday. Traders acquired 146,180 call options on the stock. This is an increase of approximately 49% compared to the average daily volume of 97,906 call options.

Analyst Ratings Changes

Several research firms have issued reports on PDD. Jefferies Financial Group cut their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Benchmark decreased their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.40.

PDD Stock Up 5.6 %

PDD stock opened at $131.34 on Friday. PDD has a 52 week low of $88.01 and a 52 week high of $164.69. The company has a market cap of $180.71 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.32 and a beta of 0.67. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $107.12 and its 200 day moving average price is $114.08.

Hedge Funds Weigh In On PDD

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gordian Capital Singapore Pte Ltd boosted its stake in shares of PDD by 1,218.9% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after purchasing an additional 6,460 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of PDD by 63.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock worth $5,155,000 after acquiring an additional 14,905 shares during the period. BOCHK Asset Management Ltd increased its stake in PDD by 3,391.7% during the 3rd quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock valued at $5,649,000 after buying an additional 40,700 shares during the period. Maple Rock Capital Partners Inc. acquired a new position in PDD during the 3rd quarter valued at about $74,221,000. Finally, M&G PLC boosted its position in shares of PDD by 14.2% during the 3rd quarter. M&G PLC now owns 247,417 shares of the company’s stock valued at $33,401,000 after purchasing an additional 30,817 shares in the last quarter. Institutional investors and hedge funds 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.