Dingdong (Cayman) (NYSE:DDL) Trading 12.1% Higher – Time to Buy?

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL)’s share price shot up 12.1% on Friday . The company traded as high as $2.1188 and last traded at $2.1850. 505,718 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 663,186 shares. The stock had previously closed at $1.95.

Analysts Set New Price Targets

DDL has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Monday. Wall Street Zen downgraded Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research note 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) Trading Up 12.1%

The business has a fifty day moving average price of $1.84 and a two-hundred day moving average price of $2.04. The firm has a market capitalization of $516.16 million, a PE ratio of 12.91 and a beta of 0.47.

Institutional Investors Weigh In On Dingdong (Cayman)

A number of hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Dingdong (Cayman) by 30.7% in the 1st 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 during the period. JPMorgan Chase & Co. raised its holdings in Dingdong (Cayman) by 66.5% in the second quarter. JPMorgan Chase & Co. now owns 968,405 shares of the company’s stock valued at $1,956,000 after acquiring an additional 386,795 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in Dingdong (Cayman) by 283.3% in the second quarter. Qube Research & Technologies Ltd now owns 491,115 shares of the company’s stock worth $992,000 after acquiring an additional 362,974 shares during the last quarter. Norges Bank purchased a new position in Dingdong (Cayman) in the second quarter worth approximately $593,000. Finally, GSA Capital Partners LLP grew its holdings in Dingdong (Cayman) by 188.4% during the 3rd quarter. GSA Capital Partners LLP now owns 304,692 shares of the company’s stock worth $631,000 after acquiring an additional 199,033 shares in the last quarter. 24.66% of the stock is currently owned by institutional investors and hedge funds.

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.