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

Pinduoduo Inc (NASDAQ:PDD) was the target of a significant growth in short interest in November. As of November 29th, there was short interest totalling 28,020,000 shares, a growth of 14.7% from the November 14th total of 24,420,000 shares. Based on an average trading volume of 7,640,000 shares, the short-interest ratio is currently 3.7 days. Currently, 4.4% of the shares of the stock are short sold.

Several equities analysts have recently commented on the company. Barclays boosted their price objective on Pinduoduo from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. ValuEngine downgraded Pinduoduo from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Macquarie assumed coverage on Pinduoduo in a research report on Wednesday, November 27th. They issued an “outperform” rating and a $62.00 price objective on the stock. Bank of America boosted their price objective on Pinduoduo from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, CLSA assumed coverage on Pinduoduo in a research report on Friday, September 6th. They issued a “buy” rating and a $40.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $36.70.

NASDAQ:PDD opened at $38.09 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $41.79 billion, a P/E ratio of -19.05 and a beta of 1.32. Pinduoduo has a 12 month low of $18.46 and a 12 month high of $45.25. The business’s 50-day moving average is $38.96 and its 200 day moving average is $29.24.

Pinduoduo (NASDAQ:PDD) last posted its earnings results on Wednesday, November 20th. The company reported ($1.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.33). The firm had revenue of $7.51 billion during the quarter, compared to analysts’ expectations of $7.58 billion. Pinduoduo had a negative return on equity of 32.14% and a negative net margin of 30.59%. Pinduoduo’s quarterly revenue was up 122.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.68) earnings per share. On average, research analysts forecast that Pinduoduo will post -0.87 earnings per share for the current year.

Several large investors have recently bought and sold shares of PDD. Pentwater Capital Management LP raised its position in Pinduoduo by 50.0% during the second quarter. Pentwater Capital Management LP now owns 90,000 shares of the company’s stock valued at $1,857,000 after purchasing an additional 30,000 shares during the period. AIA Group Ltd purchased a new stake in Pinduoduo during the second quarter valued at approximately $14,852,000. Wells Fargo & Company MN raised its position in Pinduoduo by 76.3% during the second quarter. Wells Fargo & Company MN now owns 626,290 shares of the company’s stock valued at $12,920,000 after purchasing an additional 271,012 shares during the period. Monashee Investment Management LLC purchased a new stake in Pinduoduo during the second quarter valued at approximately $722,000. Finally, JPMorgan Chase & Co. raised its position in Pinduoduo by 1.6% during the second quarter. JPMorgan Chase & Co. now owns 2,271,103 shares of the company’s stock valued at $47,148,000 after purchasing an additional 36,513 shares during the period. Institutional investors own 15.24% of the company’s stock.

Pinduoduo Company Profile

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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