Dingdong (Cayman) Limited (NYSE:DDL) Short Interest Update

Dingdong (Cayman) Limited (NYSE:DDL) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 2,890,000 shares, an increase of 8.2% from the March 15th total of 2,670,000 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average daily volume of 326,200 shares, the days-to-cover ratio is presently 8.9 days.

Analyst Upgrades and Downgrades

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

Dingdong (Cayman) Trading Down 2.6 %

Shares of NYSE:DDL traded down $0.03 during trading on Wednesday, reaching $1.12. 156,244 shares of the stock were exchanged, compared to its average volume of 180,418. The firm has a market cap of $264.58 million, a PE ratio of -18.67 and a beta of 0.10. Dingdong has a 12 month low of $1.07 and a 12 month high of $4.12. The stock has a 50-day moving average price of $1.26 and a 200-day moving average price of $1.56.

Dingdong (Cayman) (NYSE:DDL) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). Dingdong (Cayman) had a negative net margin of 0.51% and a negative return on equity of 11.16%. The firm had revenue of $703.31 million during the quarter, compared to analyst estimates of $700.70 million. During the same period in the prior year, the company earned $0.08 earnings per share. On average, sell-side analysts expect that Dingdong will post 0.03 earnings per share for the current fiscal year.

Institutional Trading of Dingdong (Cayman)

Several hedge funds and other institutional investors have recently bought and sold shares of DDL. Vanguard Group Inc. increased its holdings in shares of Dingdong (Cayman) by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,831,709 shares of the company’s stock worth $7,248,000 after purchasing an additional 58,600 shares during the period. Platinum Investment Management Ltd. grew its holdings 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 in the last quarter. Northern Trust Corp grew its holdings in shares of Dingdong (Cayman) by 434.9% during the 4th quarter. Northern Trust Corp now owns 72,612 shares of the company’s stock worth $109,000 after purchasing an additional 59,038 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Dingdong (Cayman) in the second quarter worth $49,000. Finally, Goldman Sachs Group Inc. raised its stake in Dingdong (Cayman) by 0.4% in the second quarter. Goldman Sachs Group Inc. now owns 2,460,453 shares of the company’s stock valued at $7,603,000 after purchasing an additional 8,878 shares in the last quarter. Institutional investors and hedge funds 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 dairy and bakery products, snacks, oil, seasonings, and beverages. It also operates as a self-operated online retail business primarily through Dingdong Fresh app.