Dingdong (Cayman) (NYSE:DDL) Trading 8.9% Higher

Dingdong (Cayman) Limited (NYSE:DDL)’s share price rose 8.9% during mid-day trading on Thursday . The company traded as high as $2.33 and last traded at $2.32. Approximately 889,370 shares traded hands during trading, an increase of 114% from the average daily volume of 414,913 shares. The stock had previously closed at $2.13.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. cut their price objective on shares of Dingdong (Cayman) from $1.40 to $1.15 and set an “underweight” rating for the company in a report on Tuesday, March 5th.

Dingdong (Cayman) Price Performance

The business has a 50-day moving average price of $1.44 and a two-hundred day moving average price of $1.51.

Dingdong (Cayman) (NYSE:DDL) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.03). Dingdong (Cayman) had a negative net margin of 0.18% and a negative return on equity of 9.05%. The business had revenue of $703.31 million for the quarter, compared to analyst estimates of $700.70 million. During the same period in the previous year, the firm posted $0.08 earnings per share. As a group, sell-side analysts forecast that Dingdong will post 0.07 EPS for the current year.

Institutional Trading of Dingdong (Cayman)

Institutional investors have recently added to or reduced their stakes in the business. Platinum Investment Management Ltd. boosted its stake in shares of Dingdong (Cayman) by 1.8% during the 4th quarter. Platinum Investment Management Ltd. now owns 9,308,945 shares of the company’s stock worth $13,963,000 after purchasing an additional 166,736 shares during the period. Vanguard Group Inc. lifted its position in shares of Dingdong (Cayman) by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock worth $5,917,000 after buying an additional 17,900 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Dingdong (Cayman) in the 1st quarter valued at $54,000. 24.66% of the stock is currently owned by hedge funds and other 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.