China Renaissance Securities upgraded shares of Pinduoduo (NASDAQ:PDD) from a hold rating to a buy rating in a research note released on Friday morning, Price Targets.com reports. The firm currently has $150.00 price target on the stock. Several other research firms have also weighed in on PDD. Daiwa Capital Markets assumed coverage on shares of Pinduoduo in a research note on Wednesday, May 5th. They set a buy rating and a $180.00 price objective on the stock. decreased their price target on shares of Pinduoduo from $190.00 to $168.00 and set a buy rating on the stock in a research note on Thursday, May 27th. Citigroup cut their price target on shares of Pinduoduo from $190.00 to $168.00 and set a buy rating for the company in a report on Thursday, May 27th. Finally, Zacks Investment Research cut shares of Pinduoduo from a hold rating to a sell rating in a research report on Wednesday, May 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $157.06. Shares of NASDAQ PDD traded down $1.28 during mid-day trading on Friday, hitting $87.46. The company had a trading volume of 4,860,657 shares, compared to its average volume of 7,635,033. The company has a market cap of $108.34 billion, a price-to-earnings ratio of -118.19 and a beta of 1.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.76. Pinduoduo has a 12 month low of $69.89 and a 12 month high of $212.60. The firm’s 50-day moving average price is $113.41. Several hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC increased its stake in shares of Pinduoduo by 131.2% in the second quarter. Parallel Advisors LLC now owns 460 shares of the company’s stock worth $58,000 after buying an additional 261 shares during the period. Ameritas Investment Partners Inc. increased its position in Pinduoduo by 11.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,070 shares of the company’s stock valued at $1,025,000 after purchasing an additional 831 shares during the period. Doliver Advisors LP purchased a new position in Pinduoduo during the 2nd quarter valued at $301,000. Daiwa Securities Group Inc. increased its position in Pinduoduo by 35.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 20,967 shares of the company’s stock valued at $2,663,000 after purchasing an additional 5,451 shares during the period. Finally, Tiger Pacific Capital LP increased its position in Pinduoduo by 7.2% during the 2nd quarter. Tiger Pacific Capital LP now owns 573,626 shares of the company’s stock valued at $72,862,000 after purchasing an additional 38,571 shares during the period. 19.52% of the stock is currently owned by institutional investors. Pinduoduo Company Profile Pinduoduo, Inc operates as a holding company, which engages in the development and management of an e-commerce platform. Its Pinduoduo mobile application offers a selection of merchandise for buyer acquisition and engagement. The company was founded by Hua Lin Cai and Zheng Huang on April 20, 2015 and is headquartered in Shanghai, China. Read More: What is a capital gain? 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](/daily-email-updates-basic/?symbol=NASDAQ:PDD&c=Pinduoduo) .
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