Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) Sees Significant Increase in Short Interest

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was the target of a large growth in short interest in February. As of February 13th, there was short interest totaling 2,654,930 shares, a growth of 34.9% from the January 29th total of 1,968,600 shares. Currently, 1.6% of the company’s stock are sold short. Based on an average daily volume of 7,250,472 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 7,250,472 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.6% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

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

Dingdong (Cayman) Price Performance

DDL stock remained flat at $2.84 during mid-day trading on Monday. 409,057 shares of the company’s stock were exchanged, compared to its average volume of 2,870,754. The company has a market cap of $670.89 million, a price-to-earnings ratio of 16.71 and a beta of 0.42. The stock has a 50 day simple moving average of $2.82 and a 200-day simple moving average of $2.29. Dingdong has a one year low of $1.65 and a one year high of $3.68.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Belvedere Trading LLC bought a new stake in shares of Dingdong (Cayman) in the fourth quarter valued at approximately $40,000. 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 valued at $52,000 after purchasing an additional 10,000 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Dingdong (Cayman) in the 2nd quarter valued at $54,000. Centiva Capital LP acquired a new stake in Dingdong (Cayman) in the 3rd quarter worth $56,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Dingdong (Cayman) by 43,678.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 33,272 shares of the company’s stock worth $67,000 after purchasing an additional 33,196 shares during the period. 24.66% of the stock is owned by institutional investors.

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.