Dingdong (Cayman) (NYSE:DDL) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Dingdong (Cayman) (NYSE:DDL) from a strong sell rating to a hold rating in a report issued on Monday,Zacks.com reports.

DDL has been the topic of several other reports. Wall Street Zen cut Dingdong (Cayman) from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dingdong (Cayman) in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Dingdong (Cayman) Stock Performance

Shares of DDL stock opened at $2.68 on Monday. Dingdong has a fifty-two week low of $1.65 and a fifty-two week high of $3.41. The stock’s fifty day moving average is $2.83 and its two-hundred day moving average is $2.31. The firm has a market capitalization of $631.92 million, a P/E ratio of 20.58 and a beta of 0.42.

Dingdong (Cayman) (NYSE:DDL) last issued its earnings results on Thursday, March 5th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $892.26 million during the quarter, compared to analyst estimates of $6.30 billion. Dingdong (Cayman) had a net margin of 0.91% and a return on equity of 23.14%. On average, equities analysts forecast that Dingdong will post 0.07 earnings per share for the current year.

Institutional Investors Weigh In On Dingdong (Cayman)

A number of institutional investors have recently made changes to their positions in DDL. Boundless Plain Holdings Ltd purchased a new stake in shares of Dingdong (Cayman) in the 4th quarter valued at approximately $19,893,000. Vanguard Group Inc. raised its position in Dingdong (Cayman) by 1.1% in the third quarter. Vanguard Group Inc. now owns 4,511,443 shares of the company’s stock valued at $9,339,000 after purchasing an additional 48,638 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Dingdong (Cayman) by 20.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,173,186 shares of the company’s stock worth $6,410,000 after purchasing an additional 531,352 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Dingdong (Cayman) by 8.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,020,244 shares of the company’s stock worth $7,520,000 after buying an additional 230,000 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Dingdong (Cayman) by 66.5% in the second quarter. JPMorgan Chase & Co. now owns 968,405 shares of the company’s stock valued at $1,956,000 after buying an additional 386,795 shares in the last quarter. 24.66% of the stock is currently owned by institutional investors and hedge funds.

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.