Dingdong (Cayman) (NYSE:DDL) Shares Up 2.5% – Should You Buy?

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) traded up 2.5% during trading on Wednesday . The stock traded as high as $2.65 and last traded at $2.6350. 258,519 shares traded hands during trading, a decline of 70% from the average session volume of 850,664 shares. The stock had previously closed at $2.57.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DDL. Zacks Research raised Dingdong (Cayman) from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Friday, March 27th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Dingdong (Cayman) has an average rating of “Hold”.

Dingdong (Cayman) Price Performance

The firm has a fifty day simple moving average of $2.77 and a 200-day simple moving average of $2.36. The firm has a market cap of $622.47 million, a P/E ratio of 20.27 and a beta of 0.45.

Dingdong (Cayman) (NYSE:DDL) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.02 earnings per share for the quarter. Dingdong (Cayman) had a net margin of 0.91% and a return on equity of 23.14%. The firm had revenue of $892.26 million for the quarter. On average, equities analysts predict that Dingdong will post 0.07 earnings per share for the current year.

Institutional Investors Weigh In On Dingdong (Cayman)

Institutional investors and hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP boosted its position in shares of Dingdong (Cayman) by 188.4% during the third quarter. GSA Capital Partners LLP now owns 304,692 shares of the company’s stock valued at $631,000 after buying an additional 199,033 shares during the last quarter. XTX Topco Ltd purchased a new stake in Dingdong (Cayman) in the 2nd quarter valued at $334,000. Bank of America Corp DE raised its position in Dingdong (Cayman) by 12.7% in the 2nd quarter. Bank of America Corp DE now owns 344,875 shares of the company’s stock valued at $697,000 after buying an additional 38,756 shares during the last quarter. State Street Corp lifted its stake in Dingdong (Cayman) by 6.2% during the 4th quarter. State Street Corp now owns 275,642 shares of the company’s stock valued at $686,000 after acquiring an additional 16,034 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in Dingdong (Cayman) by 8.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 223,125 shares of the company’s stock worth $462,000 after acquiring an additional 16,919 shares during the last quarter. Institutional investors and hedge funds 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.