Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) Short Interest Up 113.4% in January

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 2,806,602 shares, an increase of 113.4% from the December 31st total of 1,315,395 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average trading volume of 1,751,278 shares, the days-to-cover ratio is currently 1.6 days. Based on an average trading volume of 1,751,278 shares, the days-to-cover ratio is currently 1.6 days. Approximately 1.7% of the company’s stock are sold short.

Analyst Ratings Changes

Several research analysts recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Monday, December 29th. Zacks Research cut Dingdong (Cayman) from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Finally, Wall Street Zen downgraded Dingdong (Cayman) from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

Institutional Investors Weigh In On Dingdong (Cayman)

Hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Dingdong (Cayman) by 20.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,173,186 shares of the company’s stock valued at $6,410,000 after purchasing an additional 531,352 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Dingdong (Cayman) by 66.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 968,405 shares of the company’s stock worth $1,956,000 after buying an additional 386,795 shares during the period. Qube Research & Technologies Ltd grew its stake in Dingdong (Cayman) by 283.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 491,115 shares of the company’s stock valued at $992,000 after buying an additional 362,974 shares during the last quarter. Norges Bank bought a new position in Dingdong (Cayman) in the 2nd quarter valued at about $593,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Dingdong (Cayman) by 8.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,020,244 shares of the company’s stock worth $7,520,000 after acquiring an additional 230,000 shares during the last quarter. Institutional investors and hedge funds own 24.66% of the company’s stock.

Dingdong (Cayman) Stock Down 0.3%

NYSE:DDL opened at $2.87 on Friday. Dingdong has a 12-month low of $1.65 and a 12-month high of $3.85. The firm has a market capitalization of $677.98 million, a price-to-earnings ratio of 16.88 and a beta of 0.42. The stock’s 50 day moving average price is $2.47 and its two-hundred day moving average price is $2.19.

Dingdong (Cayman) Company Profile

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.