Dingdong (Cayman) (NYSE:DDL) Trading Up 12.1% – What’s Next?

Shares of Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) rose 12.1% on Friday . The stock traded as high as $2.1188 and last traded at $2.1850. Approximately 505,718 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 663,186 shares. The stock had previously closed at $1.95.

Analyst Upgrades and Downgrades

DDL has been the subject of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Monday. Wall Street Zen lowered shares of Dingdong (Cayman) from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Dingdong (Cayman) Stock Performance

The stock’s 50 day simple moving average is $1.84 and its 200-day simple moving average is $2.04. The firm has a market cap of $516.16 million, a price-to-earnings ratio of 12.91 and a beta of 0.47.

Hedge Funds Weigh In On Dingdong (Cayman)

A number of institutional investors have recently modified their holdings of DDL. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Dingdong (Cayman) by 30.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,641,834 shares of the company’s stock valued at $7,133,000 after buying an additional 621,018 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Dingdong (Cayman) by 36.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 206,206 shares of the company’s stock valued at $417,000 after acquiring an additional 54,563 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Dingdong (Cayman) during the 1st quarter valued at about $81,000. QRG Capital Management Inc. acquired a new position in Dingdong (Cayman) in the 2nd quarter worth about $32,000. Finally, Man Group plc boosted its position in Dingdong (Cayman) by 24.0% during the second quarter. Man Group plc now owns 531,235 shares of the company’s stock worth $1,073,000 after purchasing an additional 102,830 shares in the last quarter. Hedge funds and other institutional investors 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.