Dingdong (Cayman) (NYSE:DDL) Trading Up 5.1% - Still a Buy?

Key Points

• Dingdong (Cayman) shares rose 5.1%, trading at $2.17, with a significant drop in trading volume compared to the average.
• Wall Street analysts upgraded Dingdong from a "hold" to a "buy" rating, indicating positive market sentiment around the company.
• The company's recent quarterly earnings report showed a net margin of 1.39% and a revenue of $834.20 million, with projected earnings per share for the current year at $0.07.

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL - Get Free Report)'s stock price traded up 5.1% on Tuesday . The stock traded as high as $2.16 and last traded at $2.17. 222,002 shares traded hands during trading, a decline of 66% from the average session volume of 652,737 shares. The stock had previously closed at $2.06.

Analyst Upgrades and Downgrades

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

Dingdong (Cayman) Stock Performance

The stock has a 50-day simple moving average of $2.17 and a 200 day simple moving average of $2.41. The company has a market cap of $509.08 million, a P/E ratio of 10.26 and a beta of 0.47.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The company reported $0.06 EPS for the quarter. Dingdong (Cayman) had a return on equity of 41.69% and a net margin of 1.39%.The company had revenue of $834.20 million during the quarter. Sell-side analysts anticipate that Dingdong will post 0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dingdong (Cayman)

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Dingdong (Cayman) by 732.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,040,244 shares of the company's stock worth $8,209,000 after buying an additional 2,675,244 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Dingdong (Cayman) by 30.7% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,641,834 shares of the company's stock worth $7,133,000 after buying an additional 621,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Dingdong (Cayman) in the 4th quarter worth approximately $1,958,000. Numerai GP LLC raised its holdings in shares of Dingdong (Cayman) by 678.3% in the 4th quarter. Numerai GP LLC now owns 347,031 shares of the company's stock worth $1,138,000 after buying an additional 302,444 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Dingdong (Cayman) by 1,447.5% in the 4th quarter. Bank of America Corp DE now owns 238,461 shares of the company's stock worth $782,000 after buying an additional 223,052 shares in the last quarter. 24.66% of the stock is 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.