Pinduoduo Inc. (NASDAQ:PDD) Sees Large Growth in Short Interest

Pinduoduo Inc. (NASDAQ:PDD) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 21,940,000 shares, a growth of 33.3% from the March 15th total of 16,460,000 shares. Based on an average daily volume of 7,960,000 shares, the short-interest ratio is currently 2.8 days.

NASDAQ:PDD traded down $0.51 during mid-day trading on Monday, hitting $132.80. 4,383,519 shares of the stock traded hands, compared to its average volume of 7,908,729. The stock has a market capitalization of $162.86 billion, a price-to-earnings ratio of -145.94 and a beta of 1.60. Pinduoduo has a 52 week low of $44.80 and a 52 week high of $212.60. The firm’s 50 day moving average is $147.55 and its two-hundred day moving average is $143.63. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.19.

Pinduoduo (NASDAQ:PDD) last issued its quarterly earnings results on Tuesday, March 16th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. Pinduoduo had a negative net margin of 17.10% and a negative return on equity of 28.77%. As a group, research analysts predict that Pinduoduo will post -0.75 EPS for the current year.

PDD has been the subject of several recent research reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered their target price on shares of Pinduoduo from $220.00 to $190.00 in a report on Thursday, March 18th. Sanford C. Bernstein assumed coverage on shares of Pinduoduo in a report on Monday, January 25th. They issued an “outperform” rating and a $210.00 price objective for the company. Citigroup decreased their price objective on shares of Pinduoduo from $220.00 to $190.00 in a report on Thursday, March 18th. Benchmark boosted their price objective on shares of Pinduoduo from $150.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, March 18th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $157.00 target price (down previously from $171.00) on shares of Pinduoduo in a research report on Tuesday, March 23rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Pinduoduo has a consensus rating of “Buy” and a consensus target price of $137.05.

Hedge funds have recently modified their holdings of the business. Baillie Gifford & Co. boosted its stake in shares of Pinduoduo by 6.1% during the fourth quarter. Baillie Gifford & Co. now owns 25,369,450 shares of the company’s stock valued at $4,507,391,000 after purchasing an additional 1,468,731 shares in the last quarter. FMR LLC boosted its stake in shares of Pinduoduo by 19.0% during the fourth quarter. FMR LLC now owns 16,312,444 shares of the company’s stock valued at $2,898,231,000 after purchasing an additional 2,605,466 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Pinduoduo by 150.6% during the fourth quarter. Canada Pension Plan Investment Board now owns 4,394,853 shares of the company’s stock valued at $780,833,000 after purchasing an additional 2,641,053 shares in the last quarter. Norges Bank bought a new position in shares of Pinduoduo during the fourth quarter valued at approximately $659,086,000. Finally, Northern Trust Corp boosted its stake in shares of Pinduoduo by 144.3% during the fourth quarter. Northern Trust Corp now owns 3,107,643 shares of the company’s stock valued at $552,135,000 after purchasing an additional 1,835,580 shares in the last quarter.

About Pinduoduo

Pinduoduo Inc, through its subsidiaries, operates an e-commerce platform in the People's Republic of China. It operates Pinduoduo, a mobile platform that offers a range of products, including apparel, shoes, bags, mother and childcare products, food and beverage, fresh produce, electronic appliances, furniture and household goods, cosmetics and other personal care items, sports and fitness items, and auto accessories.

Further Reading: Trading on Margin

Receive News & Ratings for Pinduoduo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinduoduo and related companies with MarketBeat.com's FREE daily email newsletter.