Dingdong (Cayman) (NYSE:DDL) Announces Quarterly Earnings Results

Dingdong (Cayman) (NYSE:DDL) announced its quarterly earnings results on Thursday. The company reported $0.11 earnings per share for the quarter, Zacks reports. Dingdong (Cayman) had a net margin of 0.91% and a return on equity of 23.14%.

Dingdong (Cayman) Price Performance

DDL traded up $0.02 during trading on Thursday, reaching $2.61. The company had a trading volume of 241,390 shares, compared to its average volume of 1,493,881. The company has a market cap of $615.37 million, a P/E ratio of 20.04 and a beta of 0.44. Dingdong has a 12 month low of $1.65 and a 12 month high of $3.41. The business’s fifty day moving average price is $2.60 and its 200 day moving average price is $2.51.

Institutional Investors Weigh In On Dingdong (Cayman)

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. boosted its stake 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 purchasing an additional 10,000 shares during the period. Centiva Capital LP acquired a new stake in shares of Dingdong (Cayman) in the 3rd quarter valued at about $56,000. BNP Paribas Financial Markets lifted its holdings in shares of Dingdong (Cayman) by 43,678.9% in the second quarter. BNP Paribas Financial Markets now owns 33,272 shares of the company’s stock valued at $67,000 after purchasing an additional 33,196 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Dingdong (Cayman) in the third quarter valued at about $89,000. Finally, Wells Fargo & Company MN acquired a new position in shares of Dingdong (Cayman) during the fourth quarter worth about $124,000. 24.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on DDL shares. Weiss Ratings cut shares of Dingdong (Cayman) from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 1st. Zacks Research raised Dingdong (Cayman) from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Dingdong (Cayman) has an average rating of “Hold”.

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.