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

Dingdong (Cayman) Limited (NYSE:DDL - Get Free Report) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 1,080,000 shares, a drop of 37.2% from the April 30th total of 1,720,000 shares. Based on an average daily volume of 922,100 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.8% of the company's shares are sold short.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Dingdong (Cayman) from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 24th.

Hedge Funds Weigh In On Dingdong (Cayman)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Dingdong (Cayman) by 30.7% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,641,834 shares of the company's stock worth $7,133,000 after purchasing an additional 621,018 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Dingdong (Cayman) by 77.6% during the first quarter. GSA Capital Partners LLP now owns 258,305 shares of the company's stock valued at $697,000 after acquiring an additional 112,901 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Dingdong (Cayman) in the first quarter valued at $81,000. Allspring Global Investments Holdings LLC increased its stake in shares of Dingdong (Cayman) by 732.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,040,244 shares of the company's stock valued at $8,209,000 after buying an additional 2,675,244 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Dingdong (Cayman) by 78.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 122,661 shares of the company's stock valued at $402,000 after buying an additional 53,885 shares in the last quarter. Institutional investors own 24.66% of the company's stock.

Dingdong (Cayman) Trading Up 1.5%

NYSE DDL traded up $0.03 during trading on Wednesday, reaching $2.09. 300,653 shares of the company's stock were exchanged, compared to its average volume of 859,619. Dingdong has a fifty-two week low of $1.62 and a fifty-two week high of $4.79. The firm has a market capitalization of $493.72 million, a PE ratio of 23.22 and a beta of 0.56. The company's fifty day simple moving average is $2.33 and its 200-day simple moving average is $3.13.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. The business had revenue of $808.99 million during the quarter, compared to analyst estimates of $798.85 million. Dingdong (Cayman) had a return on equity of 40.86% and a net margin of 0.90%. Equities analysts forecast that Dingdong will post 0.07 EPS for the current fiscal year.

Dingdong (Cayman) declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 6th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

About Dingdong (Cayman)

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.