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

Shares of Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) shot up 10% on Tuesday . The stock traded as high as $2.27 and last traded at $2.2550. 525,616 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 675,820 shares. The stock had previously closed at $2.05.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on DDL shares. Wall Street Zen cut shares of Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Monday, December 8th. One equities research 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) Trading Up 10.5%

The company’s 50 day moving average is $1.85 and its 200-day moving average is $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.

Institutional Trading of Dingdong (Cayman)

A number of institutional investors and hedge funds have recently modified their holdings of the business. Qube Research & Technologies Ltd boosted its position in shares of Dingdong (Cayman) by 10.0% during the third quarter. Qube Research & Technologies Ltd now owns 540,062 shares of the company’s stock valued at $1,118,000 after buying an additional 48,947 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Dingdong (Cayman) by 8.2% during the third quarter. Public Employees Retirement System of Ohio now owns 223,125 shares of the company’s stock valued at $462,000 after purchasing an additional 16,919 shares during the last quarter. Centiva Capital LP bought a new stake in Dingdong (Cayman) in the 3rd quarter worth approximately $56,000. Raymond James Financial Inc. lifted its holdings in shares of Dingdong (Cayman) by 66.7% during the 3rd quarter. Raymond James Financial Inc. now owns 25,000 shares of the company’s stock valued at $52,000 after buying an additional 10,000 shares during the period. Finally, Two Sigma Investments LP bought a new stake in shares of Dingdong (Cayman) in the third quarter worth $89,000. Institutional investors own 24.66% of the company’s stock.

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.