Dingdong (Cayman) (NYSE:DDL) Rating Lowered to “Sell” at Wall Street Zen

Dingdong (Cayman) (NYSE:DDL) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Friday, August 21st. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Dingdong (Cayman) Stock Performance

Shares of Dingdong (Cayman) stock opened at $2.28 on Friday. The firm has a market cap of $538.60 million, a PE ratio of 6.33 and a beta of 0.46. The business’s 50 day simple moving average is $2.24 and its 200 day simple moving average is $2.49. Dingdong has a 52-week low of $1.65 and a 52-week high of $3.41.

Dingdong (Cayman) (NYSE:DDL) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.20 EPS for the quarter. Dingdong (Cayman) had a net margin of 2.19% and a return on equity of 47.37%.

Institutional Investors Weigh In On Dingdong (Cayman)

Several hedge funds have recently added to or reduced their stakes in the business. Boundless Plain Holdings Ltd acquired a new position in shares of Dingdong (Cayman) in the fourth quarter valued at about $19,893,000. JPMorgan Chase & Co. raised its stake in Dingdong (Cayman) by 66.5% in 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 in the last quarter. Qube Research & Technologies Ltd boosted its holdings in Dingdong (Cayman) by 283.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 491,115 shares of the company’s stock valued at $992,000 after purchasing an additional 362,974 shares during the period. Norges Bank bought a new stake in Dingdong (Cayman) in the 2nd quarter valued at about $593,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Dingdong (Cayman) during the 2nd quarter worth approximately $421,000. Institutional investors and hedge funds own 24.66% of the company’s stock.

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.