Dingdong (Cayman) (NYSE:DDL) Cut to Strong Sell at Zacks Research

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

A number of other research firms also recently commented on DDL. Weiss Ratings reiterated a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Monday, December 29th. Wall Street Zen lowered Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Dingdong (Cayman) Stock Up 3.7%

Dingdong (Cayman) stock opened at $2.79 on Monday. The company has a fifty day simple moving average of $2.32 and a 200-day simple moving average of $2.16. The firm has a market capitalization of $659.08 million, a price-to-earnings ratio of 16.41 and a beta of 0.42. Dingdong has a 52-week low of $1.65 and a 52-week high of $3.85.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DDL. Vanguard Group Inc. increased its stake in Dingdong (Cayman) by 1.1% during the third quarter. Vanguard Group Inc. now owns 4,511,443 shares of the company’s stock worth $9,339,000 after acquiring an additional 48,638 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Dingdong (Cayman) by 20.1% in the 2nd 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. Allspring Global Investments Holdings LLC grew its holdings in shares of Dingdong (Cayman) by 8.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,020,244 shares of the company’s stock worth $7,520,000 after purchasing an additional 230,000 shares during the period. JPMorgan Chase & Co. increased its position 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 purchasing an additional 386,795 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in shares of Dingdong (Cayman) by 10.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 540,062 shares of the company’s stock worth $1,118,000 after purchasing an additional 48,947 shares during the last quarter. 24.66% of the stock is currently owned by hedge funds and other institutional investors.

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.