Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) Sees Significant Increase in Short Interest

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was the target of a significant increase in short interest in February. As of February 13th, there was short interest totaling 2,654,930 shares, an increase of 34.9% from the January 29th total of 1,968,600 shares. Based on an average daily trading volume, of 7,250,472 shares, the days-to-cover ratio is presently 0.4 days. Currently, 1.6% of the shares of the company are sold short. Currently, 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 7,250,472 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Dingdong (Cayman)

Several institutional investors and hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Dingdong (Cayman) by 20.1% in the 2nd 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 during the last quarter. GSA Capital Partners LLP increased its holdings 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 worth $631,000 after buying an additional 199,033 shares in the last quarter. State Street Corp raised its stake in shares of Dingdong (Cayman) by 6.2% in the fourth 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 during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Dingdong (Cayman) by 8.2% in the third quarter. Public Employees Retirement System of Ohio now owns 223,125 shares of the company’s stock valued at $462,000 after acquiring an additional 16,919 shares during the last quarter. Finally, Mangrove Partners IM LLC acquired a new position in shares of Dingdong (Cayman) in the 4th quarter worth approximately $132,000. Institutional investors and hedge funds own 24.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DDL shares. Zacks Research cut Dingdong (Cayman) from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Wall Street Zen lowered Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Dingdong (Cayman) in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Dingdong (Cayman) Price Performance

Shares of DDL remained flat at $2.84 during mid-day trading on Monday. The stock had a trading volume of 409,057 shares, compared to its average volume of 2,870,754. The stock has a market cap of $670.89 million, a P/E ratio of 16.71 and a beta of 0.42. Dingdong has a fifty-two week low of $1.65 and a fifty-two week high of $3.68. The stock’s fifty day moving average price is $2.82 and its 200-day moving average price is $2.29.

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.