Dingdong (Cayman) (NYSE:DDL) Stock Falls 4% – What’s Next?

Shares of Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) fell 4% on Thursday. The company traded as low as $1.73 and last traded at $1.8140. 629,187 shares changed hands during mid-day trading, an increase of 154% from the average session volume of 247,926 shares. The stock had previously closed at $1.89.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DDL shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Friday, August 21st. Wall Street Zen downgraded Dingdong (Cayman) from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Two research analysts have rated the stock with a Hold rating. According to MarketBeat.com, Dingdong (Cayman) currently has a consensus rating of “Hold”.

Dingdong (Cayman) Stock Down 4.0%

The business’s 50 day simple moving average is $2.13 and its 200 day simple moving average is $2.43. The stock has a market cap of $428.52 million, a price-to-earnings ratio of 5.04 and a beta of 0.52.

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

Hedge Funds Weigh In On Dingdong (Cayman)

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio acquired a new position in Dingdong (Cayman) during the second quarter worth approximately $421,000. Tairen Capital Ltd bought a new stake in Dingdong (Cayman) in the second quarter valued at approximately $64,000. Anther Capital Ltd bought a new stake in Dingdong (Cayman) in the second quarter valued at approximately $319,000. Rangeley Capital LLC acquired a new stake in shares of Dingdong (Cayman) in the first quarter valued at approximately $128,000. Finally, Renaissance Technologies LLC lifted its position in shares of Dingdong (Cayman) by 16.6% in the first 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 during the last quarter. 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.