Dingdong (Cayman) (NYSE:DDL) Issues Quarterly Earnings Results

Dingdong (Cayman) (NYSE:DDL) issued its earnings results on Thursday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11), Zacks reports. The company had revenue of $10.92 million during the quarter, compared to analyst estimates of $1.15 billion. Dingdong (Cayman) had a return on equity of 47.37% and a net margin of 2.19%.

Dingdong (Cayman) Price Performance

Shares of NYSE:DDL traded down $0.12 during midday trading on Friday, reaching $1.77. 111,815 shares of the company’s stock were exchanged, compared to its average volume of 866,849. The firm’s 50 day simple moving average is $2.08 and its two-hundred day simple moving average is $2.41. The stock has a market cap of $419.31 million, a price-to-earnings ratio of 4.93 and a beta of 0.52. Dingdong has a fifty-two week low of $1.67 and a fifty-two week high of $3.41.

Analyst Upgrades and Downgrades

DDL has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dingdong (Cayman) in a research note on Friday, August 21st. Wall Street Zen cut shares of Dingdong (Cayman) from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat, Dingdong (Cayman) currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Tairen Capital Ltd purchased a new stake in Dingdong (Cayman) during the second quarter worth about $64,000. Rangeley Capital LLC purchased a new position in shares of Dingdong (Cayman) in the first quarter valued at approximately $128,000. Hsbc Holdings PLC purchased a new position in shares of Dingdong (Cayman) in the fourth quarter valued at approximately $400,000. Anther Capital Ltd purchased a new stake in Dingdong (Cayman) during the 2nd quarter worth approximately $319,000. Finally, Renaissance Technologies LLC increased its stake in Dingdong (Cayman) by 16.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,403,400 shares of the company’s stock worth $3,607,000 after buying an additional 199,600 shares during the period. 24.66% of the stock is currently owned by institutional investors and hedge funds.

About Dingdong (Cayman)

Dingdong (Cayman) Limited operates Dingdong Maicai, an online grocery platform in China. Through its mobile app, the company sells fresh produce, meat, seafood, prepared foods, and other groceries, with delivery fulfilled through a network of local warehouses. Founded in 2017, Dingdong has focused on serving consumers in Chinese cities, particularly in eastern China. The company was founded by Liang Changlin, who has served as its chairman and chief executive officer.