Dingdong (Cayman) (NYSE:DDL) Shares Up 5.2% – Here’s Why

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) shares were up 5.2% on Monday . The company traded as high as $2.94 and last traded at $2.9150. Approximately 979,454 shares were traded during trading, a decline of 69% from the average daily volume of 3,110,080 shares. The stock had previously closed at $2.77.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DDL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Monday, December 29th. Wall Street Zen cut shares of Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Zacks Research lowered Dingdong (Cayman) from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce”.

Dingdong (Cayman) Stock Down 0.8%

The company’s fifty day moving average price is $2.81 and its two-hundred day moving average price is $2.28. The company has a market cap of $702.78 million, a price-to-earnings ratio of 17.50 and a beta of 0.43.

Hedge Funds Weigh In On Dingdong (Cayman)

Several institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in shares of Dingdong (Cayman) during the fourth quarter worth $175,000. Mangrove Partners IM LLC bought a new stake in shares of Dingdong (Cayman) during the fourth quarter valued at approximately $132,000. State Street Corp lifted its holdings in Dingdong (Cayman) by 6.2% during the 4th quarter. State Street Corp now owns 275,642 shares of the company’s stock worth $686,000 after buying an additional 16,034 shares in the last quarter. Wells Fargo & Company MN bought a new position in Dingdong (Cayman) in the 4th quarter valued at $124,000. Finally, Belvedere Trading LLC acquired a new stake in shares of Dingdong (Cayman) in the 4th quarter valued at $40,000. Institutional investors own 24.66% of the company’s stock.

Dingdong (Cayman) Company Profile

Dingdong (Cayman) Inc, which operates under the Dingdong Fresh brand, is a China-based online grocery and fresh food delivery platform. The company leverages a network of urban micro-fulfillment centers to offer consumers a wide selection of produce, meats, seafood, dairy, packaged goods and everyday household items through its mobile application and website.

Orders placed via the Dingdong Fresh app are fulfilled from strategically located dark stores within target neighborhoods, enabling the company to promise delivery times as fast as 20–30 minutes.