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Bullish Or Bearish For Pinduoduo Inc. (NASDAQ: PDD) In 2022

Pinduoduo Inc. (NASDAQ:PDD) shares, rose in value on Friday, August 05, with the stock price down by -2.03% to the previous day’s close as strong demand from buyers drove the stock to $50.22.

Actively observing the price movement in the recent trading, the stock is buoying the session at $51.26, falling within a range of $50.935 and $54.03. The value of beta (5-year monthly) is 0.96 whereas the PE ratio is 37.17 over 12-month period. Referring to stock’s 52-week performance, its high was $109.79, and the low was $23.21. On the whole, PDD has fluctuated by -16.91% over the past month.

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With the market capitalization of Pinduoduo Inc. currently standing at about $72.72 billion, investors are eagerly awaiting this quarter’s results, scheduled for Aug 22, 2022 – Aug 26, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.39, which is expected to increase to $0.52 for fiscal year $1.91 and then to about $2.61 by fiscal year 2023. Data indicates that the EPS growth is expected to be 33.60% in 2023, while the next year’s EPS growth is forecast to be 36.60%.

Analysts have estimated the company’s revenue for the quarter at $3.49 billion, with a low estimate of $3.17 billion and a high estimate of $3.88 billion. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $16.25 billion, representing an increase of 15.80% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that PDD’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0.77, with the price of PDD currently trading nearly -6.57% and -10.15% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 41.86, while the 7-day volatility ratio is showing 7.29% which for the 30-day chart, stands at 5.98%. Furthermore, Pinduoduo Inc. (PDD)’s beta value is 0.82, and its average true range (ATR) is 3.68.

Data on historical trading for Pinduoduo Inc. (NASDAQ:PDD) indicates that the trading volumes over the past 10 days have averaged 8.64 million and over the past 3 months, they’ve averaged 12.39 million. According to company’s latest data on outstanding shares, there are 1.26 billion shares outstanding.

Nearly 0.09% of Pinduoduo Inc.’s shares belong to company insiders and institutional investors own 23.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 18.35 million shares as on Jul 14, 2022, resulting in a short ratio of 1.72. According to the data, the short interest in Pinduoduo Inc. (PDD) stood at 1.45% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 20.25 million. The stock has fallen by -12.08% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PDD stock heading into the next quarter.

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