Dingdong (Cayman) (NYSE:DDL) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Dingdong (Cayman) from a "hold" rating to a "buy" rating, indicating a positive outlook on the stock's performance.
• Dingdong's stock price recently opened at $2.06, with a market capitalization of $485.45 million and a P/E ratio of 9.79.
• Recent changes in holdings by hedge funds suggest increasing interest, with 24.66% of the stock now owned by institutional investors.

Wall Street Zen upgraded shares of Dingdong (Cayman) (NYSE:DDL - Free Report) from a hold rating to a buy rating in a research report report published on Saturday morning.

Dingdong (Cayman) Stock Down 2.1%

Shares of Dingdong (Cayman) stock traded down $0.05 on Friday, reaching $2.08. The stock had a trading volume of 367,945 shares, compared to its average volume of 656,633. Dingdong has a 1 year low of $1.95 and a 1 year high of $4.79. The company has a 50 day moving average price of $2.17 and a 200 day moving average price of $2.43. The stock has a market capitalization of $490.18 million, a P/E ratio of 9.88 and a beta of 0.47.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last released its earnings results 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 firm had revenue of $834.20 million during the quarter. On average, analysts forecast that Dingdong will post 0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dingdong (Cayman)

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

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.