Pinduoduo (NASDAQ:PDD) Announces Quarterly Earnings Results, Beats Estimates By $0.13 EPS
Pinduoduo (NASDAQ:PDD) issued its earnings results on Wednesday. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.13, Morningstar.com reports. The firm had revenue of $7.29 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Pinduoduo had a negative return on equity of 76.66% and a negative net margin of 73.90%. The firm’s revenue for the quarter was up 169.1% on a year-over-year basis.
Shares of NASDAQ PDD traded up $0.17 during midday trading on Thursday, reaching $30.28. 456,972 shares of the company traded hands, compared to its average volume of 5,690,226. The firm has a market cap of $28.33 billion and a PE ratio of -15.11. The stock’s 50-day simple moving average is $21.82 and its 200-day simple moving average is $23.27. Pinduoduo has a 12 month low of $16.53 and a 12 month high of $31.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.90 and a current ratio of 1.90.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. bought a new position in shares of Pinduoduo in the first quarter valued at about $35,000. WT Asset Management Ltd raised its holdings in shares of Pinduoduo by 44.8% in the first quarter. WT Asset Management Ltd now owns 787,448 shares of the company’s stock valued at $64,000 after buying an additional 243,622 shares during the last quarter. Quadrant Capital Group LLC bought a new position in shares of Pinduoduo in the first quarter valued at about $66,000. Atlas Capital Advisors LLC bought a new position in shares of Pinduoduo in the first quarter valued at about $87,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of Pinduoduo in the first quarter valued at about $102,000. 12.22% of the stock is owned by institutional investors.
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.
Further Reading: Why do analysts give a neutral rating?
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