Dingdong (Cayman) (NYSE:DDL) Trading 6.1% Higher

Dingdong (Cayman) Limited (NYSE:DDLGet Rating) shares traded up 6.1% during mid-day trading on Tuesday . The stock traded as high as $5.30 and last traded at $5.24. 24,991 shares were traded during trading, a decline of 99% from the average session volume of 2,255,009 shares. The stock had previously closed at $4.94.

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Dingdong (Cayman) from $21.00 to $2.50 in a research note on Monday, March 14th. Zacks Investment Research raised shares of Dingdong (Cayman) from a “hold” rating to a “buy” rating and set a $5.50 price objective on the stock in a research note on Thursday, February 24th. Finally, Morgan Stanley downgraded shares of Dingdong (Cayman) from an “overweight” rating to an “underweight” rating and cut their price target for the stock from $10.00 to $4.20 in a research note on Monday, March 21st. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.07.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.81 and a current ratio of 0.89. The stock’s 50 day simple moving average is $4.96 and its two-hundred day simple moving average is $13.49.

Dingdong (Cayman) (NYSE:DDLGet Rating) last posted its quarterly earnings results on Tuesday, February 15th. The company reported ($0.80) earnings per share for the quarter. The business had revenue of $860.48 million for the quarter. As a group, equities analysts expect that Dingdong will post -1.55 EPS for the current year.

Several hedge funds have recently modified their holdings of DDL. Ward Ferry Management BVI Ltd purchased a new position in shares of Dingdong (Cayman) in the 3rd quarter valued at $4,317,000. Coatue Management LLC raised its stake in shares of Dingdong (Cayman) by 3,505.0% in the 3rd quarter. Coatue Management LLC now owns 7,029,666 shares of the company’s stock valued at $160,968,000 after acquiring an additional 6,834,666 shares during the period. Citadel Advisors LLC purchased a new position in shares of Dingdong (Cayman) in the 3rd quarter valued at $1,303,000. UBS Group AG purchased a new position in shares of Dingdong (Cayman) in the 3rd quarter valued at $32,000. Finally, CoreView Capital Management Ltd purchased a new position in shares of Dingdong (Cayman) in the 4th quarter valued at $2,877,000. 10.11% of the stock is currently owned by institutional investors and hedge funds.

Dingdong (Cayman) Company Profile (NYSE:DDL)

Dingdong (Cayman) Limited operates an e-commerce company in China. It offers vegetables, meat and eggs, fruits, and seafood products, as well as ready-to-eat, ready-to-cook, and ready-to-heat products; and dairy and bakery products, oil and seasonings, prepared meals, rice, noodles and other wheaten products, pre-packaged foods, drinks and liquor, flowers and green plants, and home care and personal care products.

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