Dingdong (Cayman) (NYSE:DDL) Stock Price Up 3.9% – Still a Buy?

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL)’s share price shot up 3.9% on Monday. The stock traded as high as $2.21 and last traded at $2.2340. 171,380 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 937,413 shares. The stock had previously closed at $2.15.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DDL. Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a research note on Friday, August 21st. Wall Street Zen lowered Dingdong (Cayman) from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company has an average rating of “Hold”.

Dingdong (Cayman) Trading Down 1.5%

The company has a market capitalization of $525.61 million, a price-to-earnings ratio of 6.18 and a beta of 0.58. The stock’s fifty day simple moving average is $2.24 and its 200-day simple moving average is $2.36.

Dingdong (Cayman) (NYSE:DDL) last issued its quarterly earnings results 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 Trading of Dingdong (Cayman)

Several hedge funds have recently modified their holdings of DDL. Public Employees Retirement System of Ohio acquired a new stake in Dingdong (Cayman) during the second quarter worth approximately $421,000. Tairen Capital Ltd purchased a new stake in shares of Dingdong (Cayman) during the 2nd quarter worth approximately $64,000. Anther Capital Ltd purchased a new stake in shares of Dingdong (Cayman) during the 2nd quarter worth approximately $319,000. Rangeley Capital LLC purchased a new stake in shares of Dingdong (Cayman) during the 1st quarter worth approximately $128,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Dingdong (Cayman) by 16.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,403,400 shares of the company’s stock valued at $3,607,000 after buying an additional 199,600 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) Limited is a China-based e-commerce company focused on providing fresh groceries and everyday consumer products through online channels. Its product offerings include vegetables, fruits, meat, seafood, prepared foods, dairy products, packaged foods and household items.

The company operates an on-demand retail model supported by a network of front-end fulfillment facilities, which are positioned near customers to facilitate the selection, processing and delivery of orders.