Dingdong (Cayman) (NYSE:DDL) Stock Price Up 1.3% – Here’s Why

Shares of Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) rose 1.3% during trading on Monday . The company traded as high as $2.53 and last traded at $2.5230. Approximately 456,328 shares were traded during trading, an increase of 40% from the average daily volume of 326,420 shares. The stock had previously closed at $2.49.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DDL shares. Zacks Research upgraded Dingdong (Cayman) from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings cut Dingdong (Cayman) from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Dingdong (Cayman) Trading Up 0.6%

The company’s 50 day moving average is $2.60 and its 200 day moving average is $2.51. The stock has a market capitalization of $613.02 million, a price-to-earnings ratio of 19.96 and a beta of 0.44.

Dingdong (Cayman) (NYSE:DDL) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.02 EPS for the quarter. The firm had revenue of $892.26 million for the quarter. Dingdong (Cayman) had a net margin of 0.91% and a return on equity of 23.14%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Belvedere Trading LLC purchased a new position in Dingdong (Cayman) during the 4th quarter worth approximately $40,000. Raymond James Financial Inc. boosted its stake in Dingdong (Cayman) by 66.7% during the 3rd 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 during the period. Centiva Capital LP acquired a new stake in Dingdong (Cayman) during the 3rd quarter worth $56,000. BNP Paribas Financial Markets boosted 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 worth $67,000 after purchasing an additional 33,196 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in Dingdong (Cayman) during the 3rd quarter worth $89,000. Hedge funds and other institutional investors own 24.66% of the company’s stock.

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.