Dingdong (Cayman) Limited (NYSE:DDL) Sees Large Increase in Short Interest

Dingdong (Cayman) Limited (NYSE:DDL) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 2,890,000 shares, a growth of 8.2% from the March 15th total of 2,670,000 shares. Based on an average daily trading volume, of 326,200 shares, the short-interest ratio is currently 8.9 days. Approximately 2.0% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DDL. Softbank Group CORP. bought a new position in Dingdong (Cayman) during the first quarter worth about $4,053,000. JPMorgan Chase & Co. bought a new position in Dingdong (Cayman) during the second quarter worth about $4,354,000. Barclays PLC lifted its holdings in Dingdong (Cayman) by 25.7% during the fourth quarter. Barclays PLC now owns 1,286,163 shares of the company’s stock worth $5,492,000 after acquiring an additional 262,770 shares in the last quarter. State Street Corp bought a new stake in shares of Dingdong (Cayman) in the third quarter valued at about $779,000. Finally, Nomura Holdings Inc. bought a new stake in shares of Dingdong (Cayman) in the first quarter valued at about $807,000. 24.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reduced their price target on Dingdong (Cayman) from $1.40 to $1.15 and set an “underweight” rating on the stock in a research report on Tuesday, March 5th.

Dingdong (Cayman) Trading Up 0.9 %

Shares of NYSE:DDL traded up $0.01 during midday trading on Wednesday, hitting $1.13. The company had a trading volume of 226,000 shares, compared to its average volume of 317,105. Dingdong has a 12 month low of $1.07 and a 12 month high of $4.12. The stock has a market cap of $266.94 million, a price-to-earnings ratio of -18.67 and a beta of 0.10. The firm has a fifty day simple moving average of $1.26 and a 200 day simple moving average of $1.56.

Dingdong (Cayman) (NYSE:DDL) last posted its earnings results on Thursday, February 29th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.03). The business had revenue of $703.31 million for the quarter, compared to the consensus estimate of $700.70 million. Dingdong (Cayman) had a negative return on equity of 11.16% and a negative net margin of 0.51%. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Equities analysts forecast that Dingdong will post 0.03 EPS for the current fiscal year.

Dingdong (Cayman) Company Profile

Dingdong (Cayman) Limited operates an e-commerce company in China. The company offers fresh groceries, including vegetables, meat and eggs, fruits, and seafood; prepared food, and other food products, such as dairy and bakery products, snacks, oil, seasonings, and beverages. It also operates as a self-operated online retail business primarily through Dingdong Fresh app.