Dingdong (Cayman) (NYSE:DDL) Stock Falls 4% – Here’s What Happened

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL)’s stock price was down 4% on Thursday. The company traded as low as $1.73 and last traded at $1.8140. Approximately 629,187 shares were traded during mid-day trading, an increase of 154% from the average daily volume of 247,926 shares. The stock had previously closed at $1.89.

Analyst Ratings Changes

DDL has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Friday, August 21st. Wall Street Zen cut shares of Dingdong (Cayman) from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Dingdong (Cayman) Price Performance

The firm has a market capitalization of $424.03 million, a P/E ratio of 4.99 and a beta of 0.52. The company has a fifty day moving average of $2.12 and a 200 day moving average of $2.43.

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

Hedge Funds Weigh In On Dingdong (Cayman)

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position in 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. Public Employees Retirement System of Ohio bought a new position in Dingdong (Cayman) in the second quarter worth approximately $421,000. Hsbc Holdings PLC acquired a new stake in Dingdong (Cayman) in the fourth quarter valued at approximately $400,000. Anther Capital Ltd acquired a new stake in Dingdong (Cayman) in the second quarter valued at approximately $319,000. Finally, Rangeley Capital LLC acquired a new stake in Dingdong (Cayman) in the first quarter valued at approximately $128,000. Institutional investors own 24.66% of the company’s stock.

Dingdong (Cayman) Company Profile

Dingdong (Cayman) Limited is a China-based e-commerce company focused on the online sale and delivery of fresh groceries and everyday food products. Through its Dingdong Fresh platform, the company offers fruits, vegetables, meat, seafood, eggs, dairy products, prepared foods, beverages and household essentials.

The company uses a direct-to-consumer model supported by procurement, processing, food preparation and fulfillment operations. Its product offerings include private-label and ready-to-cook foods, with an emphasis on quality control, convenience and rapid delivery.