Dingdong (Cayman) (NYSE:DDL) Stock Price Up 8.9%

Dingdong (Cayman) Limited (NYSE:DDL)’s stock price rose 8.9% during trading on Thursday . The company traded as high as $2.33 and last traded at $2.32. Approximately 889,370 shares were traded during mid-day trading, an increase of 114% from the average daily volume of 414,913 shares. The stock had previously closed at $2.13.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reduced their target price on shares of Dingdong (Cayman) from $1.40 to $1.15 and set an “underweight” rating for the company in a research note on Tuesday, March 5th.

Dingdong (Cayman) Price Performance

The company has a 50-day simple moving average of $1.44 and a 200 day simple moving average of $1.51.

Dingdong (Cayman) (NYSE:DDL) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). Dingdong (Cayman) had a negative net margin of 0.18% and a negative return on equity of 9.05%. The firm had revenue of $703.31 million during the quarter, compared to analysts’ expectations of $700.70 million. During the same quarter last year, the business earned $0.08 earnings per share. On average, equities research analysts expect that Dingdong will post 0.07 earnings per share for the current fiscal year.

Institutional Trading of Dingdong (Cayman)

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DDL. Virtu Financial LLC bought a new stake in Dingdong (Cayman) in the first quarter valued at approximately $54,000. Vanguard Group Inc. raised its stake in Dingdong (Cayman) by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock worth $5,917,000 after buying an additional 17,900 shares during the period. Finally, Platinum Investment Management Ltd. increased its holdings in Dingdong (Cayman) by 1.8% during the 4th quarter. Platinum Investment Management Ltd. now owns 9,308,945 shares of the company’s stock worth $13,963,000 after purchasing an additional 166,736 shares in the last quarter. Institutional investors and hedge funds own 24.66% of the company’s stock.

About Dingdong (Cayman)

Dingdong (Cayman) Limited operates an e-commerce company in China. The company offers fresh groceries, including vegetables, meat and eggs, fruits, and seafood; prepared food, and other food products, such as baked goods, dairy, seasonings, beverages, instant food, oil, and snacks. It offers its products through traditional offline, as well as online channels through Dingdong Fresh app, mini-programs, and third-party platforms.