Dingdong (Cayman) Limited (NYSE:DDL – Get Rating) was the target of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 2,600,000 shares, an increase of 52.9% from the May 15th total of 1,700,000 shares. Based on an average daily volume of 3,040,000 shares, the short-interest ratio is presently 0.9 days. Approximately 1.8% of the shares of the company are sold short.
DDL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised Dingdong (Cayman) from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $2.50 to $7.00 in a report on Monday, May 16th. Morgan Stanley downgraded Dingdong (Cayman) from an “overweight” rating to an “underweight” rating and reduced their price objective for the company from $10.00 to $4.20 in a research report on Monday, March 21st. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $5.60.
Shares of Dingdong (Cayman) stock traded down $0.09 during trading hours on Wednesday, reaching $4.28. The stock had a trading volume of 28,243 shares, compared to its average volume of 1,989,055. The firm has a 50 day simple moving average of $4.90 and a two-hundred day simple moving average of $7.32. Dingdong has a 1 year low of $2.51 and a 1 year high of $46.00.
Dingdong (Cayman) Company Profile (Get Rating)
Dingdong (Cayman) Limited operates an e-commerce company in China. The company offers fresh produce, meat, seafood, prepared food, and other food products, such as dairy and bakery products, snacks, oil, seasonings, and beverages. It operates as a self-operated online retail business primarily through Dingdong Fresh.
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