Short Interest in Dingdong (Cayman) Limited (NYSE:DDL) Grows By 8.2%

Dingdong (Cayman) Limited (NYSE:DDL - Get Free Report) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 2,890,000 shares, a growth of 8.2% from the March 15th total of 2,670,000 shares. Based on an average daily trading volume, of 326,200 shares, the days-to-cover ratio is currently 8.9 days. Currently, 2.0% of the company's shares are sold short.

Hedge Funds Weigh In On Dingdong (Cayman)

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. acquired a new position in Dingdong (Cayman) during the 4th quarter worth approximately $85,000. Jane Street Group LLC acquired a new position in Dingdong (Cayman) during the 2nd quarter worth approximately $85,000. Vident Investment Advisory LLC acquired a new position in Dingdong (Cayman) during the 1st quarter worth approximately $82,000. CV Advisors LLC acquired a new position in Dingdong (Cayman) during the 4th quarter worth approximately $65,000. Finally, Bayesian Capital Management LP acquired a new position in Dingdong (Cayman) during the 1st quarter worth approximately $64,000. 24.66% of the stock is owned by institutional investors and hedge funds.

Dingdong (Cayman) Stock Up 1.3 %

Shares of NYSE DDL traded up $0.01 during midday trading on Wednesday, hitting $1.14. The stock had a trading volume of 225,257 shares, compared to its average volume of 317,107. The company has a market capitalization of $268.12 million, a price-to-earnings ratio of -18.92 and a beta of 0.10. Dingdong has a 1-year low of $1.07 and a 1-year high of $4.12. The company has a fifty day moving average price of $1.25 and a 200 day moving average price of $1.56.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.03). The firm had revenue of $703.31 million during the quarter, compared to analyst estimates of $700.70 million. Dingdong (Cayman) had a negative net margin of 0.51% and a negative return on equity of 11.16%. During the same period in the prior year, the firm earned $0.08 earnings per share. On average, research analysts forecast that Dingdong will post 0.03 EPS for the current year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered their price target on Dingdong (Cayman) from $1.40 to $1.15 and set an "underweight" rating for the company in a report on Tuesday, March 5th.

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 dairy and bakery products, snacks, oil, seasonings, and beverages. It also operates as a self-operated online retail business primarily through Dingdong Fresh app.