Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) Short Interest Down 29.9% in January

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was the recipient of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 1,968,600 shares, a decline of 29.9% from the January 15th total of 2,806,602 shares. Currently, 1.2% of the company’s shares are short sold. Based on an average daily volume of 1,214,416 shares, the short-interest ratio is currently 1.6 days. Based on an average daily volume of 1,214,416 shares, the short-interest ratio is currently 1.6 days. Currently, 1.2% of the company’s shares are short sold.

Institutional Investors Weigh In On Dingdong (Cayman)

A number of institutional investors have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd bought a new position in Dingdong (Cayman) in the second quarter worth about $54,000. Connor Clark & Lunn Investment Management Ltd. grew its position 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 worth $6,410,000 after buying an additional 531,352 shares during the last quarter. JPMorgan Chase & Co. raised its stake 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 acquiring an additional 386,795 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Dingdong (Cayman) during the 2nd quarter worth approximately $334,000. Finally, Norges Bank purchased a new stake in Dingdong (Cayman) during the second quarter valued at approximately $593,000. Institutional investors own 24.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen lowered Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Zacks Research downgraded Dingdong (Cayman) from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Dingdong (Cayman) currently has an average rating of “Reduce”.

Dingdong (Cayman) Stock Performance

NYSE:DDL traded down $0.03 during trading hours on Friday, reaching $2.89. The company’s stock had a trading volume of 1,051,859 shares, compared to its average volume of 4,164,953. The company has a market capitalization of $681.52 million, a P/E ratio of 16.97 and a beta of 0.42. The stock has a 50 day moving average price of $2.70 and a two-hundred day moving average price of $2.24. Dingdong has a 12 month low of $1.65 and a 12 month 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.