Dingdong (Cayman) (NYSE:DDL) Lowered to Buy Rating by Wall Street Zen

Dingdong (Cayman) (NYSE:DDL) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Dingdong (Cayman) Price Performance

Shares of NYSE:DDL opened at $2.07 on Friday. The business’s 50-day moving average is $2.45 and its 200 day moving average is $3.24. Dingdong has a 1 year low of $1.62 and a 1 year high of $4.79. The firm has a market capitalization of $487.81 million, a P/E ratio of 22.94 and a beta of 0.56.

Dingdong (Cayman) (NYSE:DDL) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $808.99 million for the quarter, compared to analyst estimates of $798.85 million. Dingdong (Cayman) had a return on equity of 40.86% and a net margin of 0.90%. On average, analysts expect that Dingdong will post 0.07 EPS for the current year.

Dingdong (Cayman) declared that its board has initiated a stock repurchase plan on Thursday, March 6th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Dingdong (Cayman)

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DDL. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Dingdong (Cayman) by 30.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,641,834 shares of the company’s stock worth $7,133,000 after purchasing an additional 621,018 shares during the last quarter. GSA Capital Partners LLP increased its holdings in Dingdong (Cayman) by 77.6% in the 1st quarter. GSA Capital Partners LLP now owns 258,305 shares of the company’s stock worth $697,000 after buying an additional 112,901 shares during the period. Mackenzie Financial Corp purchased a new position in Dingdong (Cayman) during the 1st quarter worth approximately $81,000. Allspring Global Investments Holdings LLC raised its position in Dingdong (Cayman) by 732.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,040,244 shares of the company’s stock worth $8,209,000 after buying an additional 2,675,244 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Dingdong (Cayman) by 78.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 122,661 shares of the company’s stock valued at $402,000 after acquiring an additional 53,885 shares during the period. Institutional investors and hedge funds own 24.66% of the company’s stock.

About Dingdong (Cayman)

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 baked goods, dairy, seasonings, beverages, instant food, oil, and snacks. It offers its products through traditional offline, as well as online channels through Dingdong Fresh app, mini-programs, and third-party platforms.