Dingdong (Cayman) (NYSE:DDL) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Dingdong (Cayman) (NYSE:DDL) from a hold rating to a sell rating in a research note released on Saturday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Friday, August 21st. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Dingdong (Cayman) presently has an average rating of “Hold”.

Dingdong (Cayman) Trading Up 2.2%

Shares of DDL opened at $2.28 on Friday. The business’s 50-day moving average price is $2.24 and its 200 day moving average price is $2.49. The stock has a market capitalization of $538.60 million, a P/E ratio of 6.33 and a beta of 0.46. Dingdong has a 1-year low of $1.65 and a 1-year high of $3.41.

Dingdong (Cayman) (NYSE:DDL) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.20 EPS for the quarter. Dingdong (Cayman) had a net margin of 2.19% and a return on equity of 47.37%.

Institutional Investors Weigh In On Dingdong (Cayman)

Several hedge funds have recently bought and sold shares of DDL. Belvedere Trading LLC purchased a new position in Dingdong (Cayman) during the 4th quarter valued at about $40,000. Raymond James Financial Inc. lifted its position in shares of Dingdong (Cayman) by 66.7% in the third quarter. Raymond James Financial Inc. now owns 25,000 shares of the company’s stock worth $52,000 after purchasing an additional 10,000 shares in the last quarter. Centiva Capital LP purchased a new stake in shares of Dingdong (Cayman) in the third quarter worth approximately $56,000. Tairen Capital Ltd acquired a new stake in shares of Dingdong (Cayman) during the second quarter worth approximately $64,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Dingdong (Cayman) by 43,678.9% during the second quarter. BNP Paribas Financial Markets now owns 33,272 shares of the company’s stock worth $67,000 after purchasing an additional 33,196 shares during the period. 24.66% of the stock is owned by hedge funds and other institutional investors.

About Dingdong (Cayman)

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.