Dingdong (Cayman) (NYSE:DDL) Shares Gap Up - Still a Buy?

Key Points

• Dingdong (Cayman) Limited shares gapped up from $2.20 to $2.27 before closing at $2.22 with a volume of 81,926 shares traded.
• Wall Street Zen upgraded Dingdong's rating from a "hold" to a "buy" on August 30th, indicating increased confidence in the company's prospects.
• The company reported earnings of $0.06 EPS for the last quarter and has a market capitalization of $518.52 million.

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $2.20, but opened at $2.27. Dingdong (Cayman) shares last traded at $2.22, with a volume of 81,926 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Dingdong (Cayman) from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th.

Dingdong (Cayman) Trading Down 2.8%

The company has a market cap of $496.08 million, a PE ratio of 10.00 and a beta of 0.47. The business's 50-day simple moving average is $2.19 and its 200-day simple moving average is $2.31.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last released its quarterly earnings results on Thursday, August 21st. The company reported $0.06 earnings per share for the quarter. The business had revenue of $834.20 million for the quarter. Dingdong (Cayman) had a net margin of 1.39% and a return on equity of 41.69%. On average, research analysts predict that Dingdong will post 0.07 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. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of 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 acquiring an additional 531,352 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Dingdong (Cayman) by 732.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,040,244 shares of the company's stock valued at $8,209,000 after purchasing an additional 2,675,244 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings 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. Millennium Management LLC lifted its holdings in Dingdong (Cayman) by 26.8% during the 4th quarter. Millennium Management LLC now owns 813,024 shares of the company's stock valued at $2,667,000 after purchasing an additional 171,832 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Dingdong (Cayman) during the 4th quarter valued at about $1,958,000. 24.66% of the stock is currently owned by institutional investors and hedge funds.

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.