PDD Holdings Inc ADR’s recently made public that its Director Kam Anthony Ping Leung acquired Company’s shares for reported $0.27 million on Sep 25 ’24. In the deal valued at $113.80 per share,2,343 shares were bought.
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Macquarie upgraded its PDD Holdings Inc ADR [PDD] rating to an Outperform from a a Neutral in a research note published on October 07, 2024; the price target was increased to $224 from $126. A number of analysts have revised their coverage, including Citigroup’s analysts, who decreased its forecast for the stock in late August from “a Buy” to “a Neutral”. Jefferies also remained covering PDD and reiterated its “Buy” recommendation on August 26, 2024. Macquarie revised its rating on August 26, 2024. It rated PDD as “a Neutral” which previously was an “an Outperform”.
Price Performance Review of PDD
On Tuesday, PDD Holdings Inc ADR [NASDAQ:PDD] saw its stock fall -5.75% to $128.21. Over the last five days, the stock has lost -11.49%. PDD Holdings Inc ADR shares have fallen nearly -12.37% since the year began. Nevertheless, the stocks have risen 20.84% over the past one year. While a 52-week high of $164.69 was reached on 05/24/24, a 52-week low of $88.01 was recorded on 08/28/24. SMA at 50 days reached $122.72, while 200 days put it at $130.65.
Levels Of Support And Resistance For PDD Stock
The 24-hour chart illustrates a support level at 126.33, which if violated will result in even more drops to 124.45. On the upside, there is a resistance level at 131.19. A further resistance level may holdings at 134.17. The Relative Strength Index (RSI) on the 14-day chart is 48.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -6.15, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.36%. Stochastics %K at 49.84% indicates the stock is a holding.
How much short interest is there in PDD Holdings Inc ADR?
A steep rise in short interest was recorded in PDD Holdings Inc ADR stocks on 2024-09-30, growing by 2.0 million shares to a total of 35.78 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 33.78 million shares. There was a rise of 5.6%, which implies that there is a positive sentiment for the stock.
