Dingdong (Cayman) (NYSE:DDL) Trading Up 6.1% - Still a 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)'s stock price rose 6.1% during 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.

Analysts Set New Price Targets

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

Dingdong (Cayman) Trading Down 0.6%

The stock has a market cap of $558.68 million, a PE ratio of 15.77 and a beta of 0.47. The business has a 50 day moving average of $2.15 and a 200-day moving average of $2.51.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DDL. QRG Capital Management Inc. acquired a new position in shares of Dingdong (Cayman) in the second quarter worth $32,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Dingdong (Cayman) during the 4th quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. grew its stake in Dingdong (Cayman) by 319.2% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,866 shares of the company's stock worth $42,000 after acquiring an additional 9,797 shares during the period. Two Sigma Advisers LP acquired a new position in Dingdong (Cayman) in the 4th quarter valued at $47,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Dingdong (Cayman) during the 2nd quarter worth $54,000. 24.66% of the stock is currently owned by institutional investors and hedge funds.

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.