Wall Street Zen Downgrades Dingdong (Cayman) (NYSE:DDL) to Hold

Key Points

• Dingdong (Cayman) has been downgraded from a "buy" to a "hold" rating by analysts at Wall Street Zen.
• The stock is currently priced at $2.15, with a market cap of approximately $507.89 million and has a price-to-earnings ratio of 14.33.
• Several institutional investors have significantly increased their holdings in Dingdong, with Allspring Global Investments Holdings LLC boosting its stake by 732.9% recently.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Dingdong (Cayman) Price Performance

Shares of DDL stock traded up $0.09 during trading hours on Friday, hitting $2.16. The company had a trading volume of 173,152 shares, compared to its average volume of 654,721. The company's fifty day moving average is $2.13 and its 200 day moving average is $2.55. Dingdong has a fifty-two week low of $1.87 and a fifty-two week high of $4.79. The stock has a market capitalization of $509.08 million, a PE ratio of 14.43 and a beta of 0.47.

Institutional Investors Weigh In On Dingdong (Cayman)

A number of large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Dingdong (Cayman) during the 2nd quarter worth $593,000. XTX Topco Ltd acquired a new stake in Dingdong (Cayman) during the 2nd quarter worth $334,000. JPMorgan Chase & Co. boosted 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 worth $1,956,000 after purchasing an additional 386,795 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Dingdong (Cayman) by 20.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,173,186 shares of the company's stock worth $6,410,000 after purchasing an additional 531,352 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Dingdong (Cayman) during the 2nd quarter worth $54,000. 24.66% of the stock is 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.