Zacks Research Upgrades Dingdong (Cayman) (NYSE:DDL) to “Hold”

Dingdong (Cayman) (NYSE:DDL) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on DDL. Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Monday, December 29th. Wall Street Zen lowered shares of Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Dingdong (Cayman) Stock Performance

Shares of DDL opened at $2.68 on Monday. Dingdong has a fifty-two week low of $1.65 and a fifty-two week high of $3.41. The firm’s 50-day simple moving average is $2.83 and its two-hundred day simple moving average is $2.31. The stock has a market cap of $631.92 million, a PE ratio of 20.58 and a beta of 0.42.

Dingdong (Cayman) (NYSE:DDL) last posted its quarterly earnings results on Thursday, March 5th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $892.26 million during the quarter, compared to analysts’ expectations of $6.30 billion. Dingdong (Cayman) had a return on equity of 23.14% and a net margin of 0.91%. Equities research analysts predict that Dingdong will post 0.07 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Dingdong (Cayman) by 20.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,173,186 shares of the company’s stock valued at $6,410,000 after purchasing an additional 531,352 shares during the period. GSA Capital Partners LLP lifted its stake in shares of Dingdong (Cayman) by 188.4% in the 3rd quarter. GSA Capital Partners LLP now owns 304,692 shares of the company’s stock worth $631,000 after purchasing an additional 199,033 shares during the period. XTX Topco Ltd purchased a new position in shares of Dingdong (Cayman) in the second quarter worth approximately $334,000. Caxton Associates LLP bought a new stake in Dingdong (Cayman) during the second quarter valued at approximately $147,000. Finally, Mangrove Partners IM LLC purchased a new stake in Dingdong (Cayman) during the fourth quarter valued at approximately $132,000. 24.66% of the stock is owned by hedge funds and other institutional investors.

Dingdong (Cayman) Company Profile

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.