Dingdong (Cayman) (NYSE:DDL) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Dingdong (Cayman) (NYSE:DDL) from a buy rating to a hold rating in a report issued on Saturday morning.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dingdong (Cayman) in a research note on Thursday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Dingdong (Cayman) currently has an average rating of “Hold”.

Dingdong (Cayman) Stock Down 2.6%

Shares of Dingdong (Cayman) stock opened at $1.69 on Friday. The stock has a market cap of $398.05 million, a price-to-earnings ratio of 9.91 and a beta of 0.46. Dingdong has a twelve month low of $1.65 and a twelve month high of $4.79. The company’s fifty day moving average is $1.94 and its 200 day moving average is $2.10.

Dingdong (Cayman) (NYSE:DDL) last announced its earnings results on Thursday, August 21st. The company reported $0.06 earnings per share (EPS) for the quarter. Dingdong (Cayman) had a return on equity of 31.21% and a net margin of 1.17%.The business had revenue of $834.20 million during the quarter. As a group, equities analysts anticipate that Dingdong will post 0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dingdong (Cayman)

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Dingdong (Cayman) by 30.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,641,834 shares of the company’s stock worth $7,133,000 after purchasing an additional 621,018 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Dingdong (Cayman) by 66.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 968,405 shares of the company’s stock worth $1,956,000 after buying an additional 386,795 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Dingdong (Cayman) by 283.3% in the second quarter. Qube Research & Technologies Ltd now owns 491,115 shares of the company’s stock worth $992,000 after acquiring an additional 362,974 shares in the last quarter. Norges Bank acquired a new stake in Dingdong (Cayman) in the second quarter valued at approximately $593,000. Finally, GSA Capital Partners LLP grew its stake in Dingdong (Cayman) by 188.4% in the third quarter. GSA Capital Partners LLP now owns 304,692 shares of the company’s stock valued at $631,000 after acquiring an additional 199,033 shares during the period. 24.66% of the stock is owned by institutional investors.

Dingdong (Cayman) Company Profile

Dingdong (Cayman) Limited operates an e-commerce company in China. The company offers fresh groceries, including vegetables, meat and eggs, fruits, and seafood; prepared food, and other food products, such as baked goods, dairy, seasonings, beverages, instant food, oil, and snacks. It offers its products through traditional offline, as well as online channels through Dingdong Fresh app, mini-programs, and third-party platforms.