Pinduoduo Inc (NASDAQ:PDD) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 23,160,257 shares, an increase of 28.3% from the October 15th total of 18,050,118 shares. Based on an average daily volume of 5,654,013 shares, the short-interest ratio is presently 4.1 days.
NASDAQ PDD opened at $18.31 on Friday. Pinduoduo has a 12-month low of $17.00 and a 12-month high of $30.48.
Pinduoduo (NASDAQ:PDD) last posted its quarterly earnings results on Thursday, August 30th. The company reported ($2.04) earnings per share (EPS) for the quarter. The firm had revenue of $409.40 million for the quarter.
Separately, Goldman Sachs Group assumed coverage on shares of Pinduoduo in a research report on Thursday, September 13th. They issued a “buy” rating and a $31.90 price target on the stock.
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Pinduoduo Inc operates an e-commerce platform in the People's Republic of China. It also operates Pinduoduo, a mobile platform that offers a range of priced merchandise. The company was formerly known as Walnut Street Group Holding Limited and changed its name to Pinduoduo Inc in July 2018. Pinduoduo Inc was founded in 2015 and is based in Shanghai, the People's Republic of China.
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