Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) Short Interest Up 113.4% in January

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totaling 2,806,602 shares, a growth of 113.4% from the December 31st total of 1,315,395 shares. Based on an average trading volume of 1,751,278 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.7% of the shares of the stock are short sold. Currently, 1.7% of the shares of the stock are short sold. Based on an average trading volume of 1,751,278 shares, the days-to-cover ratio is currently 1.6 days.

Dingdong (Cayman) Trading Down 1.2%

Shares of DDL traded down $0.04 during mid-day trading on Friday, reaching $2.85. The company had a trading volume of 385,396 shares, compared to its average volume of 1,461,476. Dingdong has a fifty-two week low of $1.65 and a fifty-two week high of $3.85. The firm has a fifty day simple moving average of $2.45 and a 200-day simple moving average of $2.18. The stock has a market cap of $672.07 million, a price-to-earnings ratio of 16.74 and a beta of 0.42.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Zacks Research lowered Dingdong (Cayman) from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Wall Street Zen downgraded Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Institutional Investors Weigh In On Dingdong (Cayman)

Several hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. acquired a new stake in shares of Dingdong (Cayman) in the second quarter valued at approximately $32,000. Raymond James Financial Inc. grew its holdings in Dingdong (Cayman) by 66.7% in the 3rd quarter. Raymond James Financial Inc. now owns 25,000 shares of the company’s stock worth $52,000 after buying an additional 10,000 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Dingdong (Cayman) in the 2nd quarter valued at approximately $54,000. Centiva Capital LP acquired a new stake in Dingdong (Cayman) in the 3rd quarter valued at approximately $56,000. Finally, BNP Paribas Financial Markets raised its stake in Dingdong (Cayman) by 43,678.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 33,272 shares of the company’s stock valued at $67,000 after acquiring an additional 33,196 shares in the last quarter. 24.66% of the stock is currently 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.