Short Interest in Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) Increases By 130.1%

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was the target of a large growth in short interest in December. As of December 31st, there was short interest totaling 1,315,395 shares, a growth of 130.1% from the December 15th total of 571,669 shares. Based on an average daily volume of 3,084,992 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.8% of the shares of the stock are sold short. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily volume of 3,084,992 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On Dingdong (Cayman)

Several institutional investors and hedge funds have recently modified their holdings of the company. QRG Capital Management Inc. purchased a new stake in Dingdong (Cayman) in the second quarter valued at approximately $32,000. Raymond James Financial Inc. boosted its holdings in Dingdong (Cayman) by 66.7% in the 3rd quarter. Raymond James Financial Inc. now owns 25,000 shares of the company’s stock worth $52,000 after acquiring an additional 10,000 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Dingdong (Cayman) during the second quarter valued at approximately $54,000. Centiva Capital LP purchased a new stake in Dingdong (Cayman) during the 3rd quarter worth $56,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Dingdong (Cayman) by 43,678.9% in the second quarter. BNP Paribas Financial Markets now owns 33,272 shares of the company’s stock worth $67,000 after acquiring an additional 33,196 shares in the last quarter. Hedge funds and other institutional investors own 24.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DDL. Wall Street Zen lowered Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Dingdong (Cayman) Stock Performance

DDL traded down $0.02 during trading on Thursday, reaching $2.72. The company’s stock had a trading volume of 693,257 shares, compared to its average volume of 2,080,608. The company’s fifty day moving average price is $2.24 and its 200-day moving average price is $2.14. The company has a market capitalization of $642.55 million, a price-to-earnings ratio of 16.00 and a beta of 0.42. Dingdong has a 52-week low of $1.65 and a 52-week high of $3.85.

About Dingdong (Cayman)

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.