Dingdong (Cayman) (NYSE:DDL) Upgraded at Zacks Research

Zacks Research upgraded shares of Dingdong (Cayman) (NYSE:DDL) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

DDL has been the subject of several other research reports. Wall Street Zen lowered shares of Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Dingdong (Cayman) has a consensus rating of “Hold”.

Dingdong (Cayman) Stock Performance

Shares of NYSE:DDL opened at $2.71 on Monday. The stock has a 50-day simple moving average of $2.84 and a 200-day simple moving average of $2.32. The stock has a market capitalization of $639.00 million, a P/E ratio of 20.81 and a beta of 0.42. Dingdong has a 1 year low of $1.65 and a 1 year high of $3.41.

Dingdong (Cayman) (NYSE:DDL) last posted its quarterly earnings results on Thursday, March 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $892.26 million during the quarter, compared to analysts’ expectations of $6.30 billion. Dingdong (Cayman) had a net margin of 0.91% and a return on equity of 23.14%. Analysts predict that Dingdong will post 0.07 earnings per share for the current year.

Hedge Funds Weigh In On Dingdong (Cayman)

Institutional investors and hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Dingdong (Cayman) by 20.1% during 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 period. GSA Capital Partners LLP boosted its stake in shares of Dingdong (Cayman) by 188.4% in the third quarter. GSA Capital Partners LLP now owns 304,692 shares of the company’s stock valued at $631,000 after purchasing an additional 199,033 shares during the period. XTX Topco Ltd purchased a new position in shares of Dingdong (Cayman) in the second quarter valued at $334,000. Mangrove Partners IM LLC acquired a new stake in Dingdong (Cayman) during the 4th quarter valued at $132,000. Finally, Wells Fargo & Company MN acquired a new stake in Dingdong (Cayman) during the 4th quarter valued at $124,000. Hedge funds and other institutional investors own 24.66% of the company’s stock.

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.