Dingdong (Cayman) (NYSE:DDL) Stock Price Up 2% – Time to Buy?

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) shares were up 2% during trading on Tuesday. The stock traded as high as $2.33 and last traded at $2.3250. 335,915 shares changed hands during mid-day trading, an increase of 35% from the average daily volume of 249,053 shares. The stock had previously closed at $2.28.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DDL. Wall Street Zen lowered shares of Dingdong (Cayman) from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Friday, August 21st. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Dingdong (Cayman) currently has an average rating of “Hold”.

Dingdong (Cayman) Stock Performance

The company has a 50 day simple moving average of $2.31 and a two-hundred day simple moving average of $2.41. The company has a market cap of $530.33 million, a PE ratio of 6.24 and a beta of 0.48.

Dingdong (Cayman) (NYSE:DDL) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter. Dingdong (Cayman) had a net margin of 2.19% and a return on equity of 47.37%.

Hedge Funds Weigh In On Dingdong (Cayman)

A number of hedge funds have recently modified their holdings of DDL. Public Employees Retirement System of Ohio bought a new position in Dingdong (Cayman) during the second quarter valued at about $421,000. Tairen Capital Ltd bought a new stake in shares of Dingdong (Cayman) during the 2nd quarter worth about $64,000. Anther Capital Ltd acquired a new position in shares of Dingdong (Cayman) during the 2nd quarter valued at about $319,000. Rangeley Capital LLC acquired a new position in shares of Dingdong (Cayman) during the 1st quarter valued at about $128,000. Finally, Renaissance Technologies LLC raised its stake in shares of Dingdong (Cayman) by 16.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,403,400 shares of the company’s stock valued at $3,607,000 after acquiring an additional 199,600 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 Dingdong Maicai, a technology-enabled e-commerce platform focused on providing fresh groceries and prepared foods to consumers in China. Customers can order products through the company’s online channels, including fresh produce, meat, seafood, dairy products, eggs, packaged foods and other household staples.

Founded in 2017, Dingdong uses a direct-sourcing and integrated fulfillment model designed to manage product selection, procurement, quality control, storage and delivery.