Short Interest in Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) Increases By 34.9%

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was the recipient of a large increase in short interest in February. As of February 13th, there was short interest totaling 2,654,930 shares, an increase of 34.9% from the January 29th total of 1,968,600 shares. Based on an average daily volume of 7,250,472 shares, the short-interest ratio is presently 0.4 days. Approximately 1.6% of the company’s shares are sold short. Approximately 1.6% of the company’s shares are sold short. Based on an average daily volume of 7,250,472 shares, the short-interest ratio is presently 0.4 days.

Institutional Trading of Dingdong (Cayman)

Hedge funds and other institutional investors have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd bought a new stake in shares of Dingdong (Cayman) during the second quarter worth approximately $54,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Dingdong (Cayman) by 20.1% in 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. JPMorgan Chase & Co. boosted its position in shares of Dingdong (Cayman) by 66.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 968,405 shares of the company’s stock worth $1,956,000 after purchasing an additional 386,795 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Dingdong (Cayman) in the 2nd quarter worth $334,000. Finally, Norges Bank acquired a new stake in shares of Dingdong (Cayman) during the second quarter worth $593,000. Institutional investors and hedge funds own 24.66% of the company’s stock.

Dingdong (Cayman) Stock Performance

Shares of DDL stock remained flat at $2.75 during mid-day trading on Wednesday. 1,204,145 shares of the stock were exchanged, compared to its average volume of 2,790,977. The firm’s fifty day moving average is $2.83 and its 200-day moving average is $2.30. The company has a market capitalization of $649.63 million, a P/E ratio of 16.18 and a beta of 0.42. Dingdong has a 52 week low of $1.65 and a 52 week high of $3.68.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a research note on Monday, December 29th. Wall Street Zen lowered Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Zacks Research cut Dingdong (Cayman) from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

About Dingdong (Cayman)

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.