Dingdong (Cayman) (NYSE:DDL) Shares Up 6.1% - Should You Buy?

Key Points

• Dingdong (Cayman) Limited's stock price increased by 6.1%, reaching $2.36 during trading, although the trading volume decreased significantly by 78% compared to the average.
• Analysts at Wall Street Zen downgraded Dingdong (Cayman) from a "buy" to a "hold" rating, reflecting changing views on the company’s outlook.
• Institutional investors have ramped up their stakes in Dingdong (Cayman), with notable increases including a 319.2% rise in holdings by Point72 Asia Singapore Pte. Ltd.

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL - Get Free Report) shares rose 6.1% during mid-day trading on Thursday . The stock traded as high as $2.40 and last traded at $2.36. Approximately 143,932 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 653,074 shares. The stock had previously closed at $2.22.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Dingdong (Cayman) from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th.

Dingdong (Cayman) Stock Down 2.6%

The company has a market cap of $524.43 million, a P/E ratio of 14.80 and a beta of 0.47. The business has a fifty day moving average of $2.14 and a 200 day moving average of $2.52.

Hedge Funds Weigh In On Dingdong (Cayman)

Institutional investors have recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new position in shares of Dingdong (Cayman) during the fourth quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. increased 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 acquiring an additional 9,797 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Dingdong (Cayman) during the fourth quarter valued at $47,000. QRG Capital Management Inc. purchased a new stake in shares of Dingdong (Cayman) during the second quarter valued at $32,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Dingdong (Cayman) during the second quarter valued at $54,000. Institutional investors own 24.66% of the company's stock.

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.