Dingdong (Cayman) (NYSE:DDL) Stock Price Up 10% – Still a Buy?

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL)’s share price rose 10% on Tuesday . The company traded as high as $2.27 and last traded at $2.2550. Approximately 525,616 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 675,820 shares. The stock had previously closed at $2.05.

Analyst Ratings Changes

DDL has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Monday, December 8th. Wall Street Zen cut Dingdong (Cayman) from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Dingdong (Cayman) Price Performance

The stock has a 50-day moving average price of $1.85 and a 200-day moving average price of $2.03. The company has a market capitalization of $535.06 million, a P/E ratio of 13.32 and a beta of 0.47.

Hedge Funds Weigh In On Dingdong (Cayman)

Institutional investors and hedge funds have recently modified their holdings of the business. QRG Capital Management Inc. bought a new stake in Dingdong (Cayman) in the second quarter valued at $32,000. Raymond James Financial Inc. lifted its holdings in Dingdong (Cayman) by 66.7% during the third quarter. Raymond James Financial Inc. now owns 25,000 shares of the company’s stock worth $52,000 after acquiring an additional 10,000 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Dingdong (Cayman) during the 2nd quarter worth approximately $54,000. Centiva Capital LP purchased a new position in shares of Dingdong (Cayman) in the third quarter worth about $56,000. Finally, BNP Paribas Financial Markets boosted its stake in Dingdong (Cayman) by 43,678.9% in 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 currently owned by institutional investors.

Dingdong (Cayman) Company Profile

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.