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

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 research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Dingdong (Cayman) Stock Performance

Shares of NYSE DDL traded down $0.04 during midday trading on Friday, hitting $2.11. The company's stock had a trading volume of 139,432 shares, compared to its average volume of 660,684. Dingdong has a 1-year low of $1.80 and a 1-year high of $4.79. The firm's fifty day moving average price is $2.13 and its 200-day moving average price is $2.56. The firm has a market cap of $497.26 million, a P/E ratio of 14.03 and a beta of 0.47.

Hedge Funds Weigh In On Dingdong (Cayman)

Large investors have recently bought and sold shares of the business. Bank of Nova Scotia bought a new position in Dingdong (Cayman) in the fourth quarter worth about $33,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Dingdong (Cayman) during the fourth quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Dingdong (Cayman) by 319.2% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,866 shares of the company's stock valued at $42,000 after buying an additional 9,797 shares during the last quarter. Two Sigma Advisers LP bought a new stake in shares of Dingdong (Cayman) during the fourth quarter valued at approximately $47,000. Finally, QRG Capital Management Inc. bought a new stake in shares of Dingdong (Cayman) during the second quarter valued at approximately $32,000. Institutional investors 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 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.