Dingdong (Cayman) (NYSE:DDL) Cut to "Sell" at Wall Street Zen

Dingdong (Cayman) (NYSE:DDL - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Dingdong (Cayman) in a research report on Friday, August 21st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold".

Dingdong (Cayman) Stock Up 2.2%

Shares of DDL stock opened at $2.28 on Friday. Dingdong has a 12 month low of $1.65 and a 12 month high of $3.41. The company has a market cap of $538.60 million, a PE ratio of 6.33 and a beta of 0.46. The business's 50 day moving average is $2.24 and its two-hundred day moving average is $2.49.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.20 earnings per share for the quarter. Dingdong (Cayman) had a net margin of 2.19% and a return on equity of 47.37%.

Institutional Investors Weigh In On Dingdong (Cayman)

Several hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in Dingdong (Cayman) by 66.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 968,405 shares of the company's stock valued at $1,956,000 after purchasing an additional 386,795 shares during the last quarter. Norges Bank acquired a new stake in Dingdong (Cayman) in the 2nd quarter worth $593,000. Qube Research & Technologies Ltd grew its position in Dingdong (Cayman) by 283.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 491,115 shares of the company's stock worth $992,000 after purchasing an additional 362,974 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Dingdong (Cayman) by 12.7% during the 2nd quarter. Bank of America Corp DE now owns 344,875 shares of the company's stock worth $697,000 after purchasing an additional 38,756 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Dingdong (Cayman) by 43,678.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 33,272 shares of the company's stock worth $67,000 after purchasing an additional 33,196 shares during the period. Institutional investors and hedge funds own 24.66% of the company's stock.

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.

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