Dingdong (Cayman) (NYSE:DDL) Downgraded to Strong Sell Rating by Zacks Research

Dingdong (Cayman) (NYSE:DDL) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Several other research firms have also issued reports on DDL. Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Monday, December 29th. Wall Street Zen lowered shares of Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Dingdong (Cayman) presently has a consensus rating of “Reduce”.

Dingdong (Cayman) Trading Up 3.3%

NYSE DDL opened at $2.70 on Monday. Dingdong has a 12 month low of $1.65 and a 12 month high of $3.85. The stock has a 50-day simple moving average of $2.29 and a 200 day simple moving average of $2.15. The company has a market capitalization of $636.64 million, a PE ratio of 15.85 and a beta of 0.42.

Institutional Investors Weigh In On Dingdong (Cayman)

A number of hedge funds have recently modified their holdings of DDL. Public Employees Retirement System of Ohio grew its position in shares of Dingdong (Cayman) by 36.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 206,206 shares of the company’s stock valued at $417,000 after purchasing an additional 54,563 shares during the period. QRG Capital Management Inc. acquired a new stake in Dingdong (Cayman) during the 2nd quarter worth approximately $32,000. Y Intercept Hong Kong Ltd bought a new position in Dingdong (Cayman) in the second quarter valued at approximately $54,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Dingdong (Cayman) by 20.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,173,186 shares of the company’s stock valued at $6,410,000 after buying an additional 531,352 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Dingdong (Cayman) by 66.5% during the second quarter. JPMorgan Chase & Co. now owns 968,405 shares of the company’s stock worth $1,956,000 after acquiring an additional 386,795 shares in the last quarter. Institutional investors and hedge funds own 24.66% of the company’s stock.

Dingdong (Cayman) Company Profile

Dingdong (Cayman) Inc, which operates under the Dingdong Fresh brand, is a China-based online grocery and fresh food delivery platform. The company leverages a network of urban micro-fulfillment centers to offer consumers a wide selection of produce, meats, seafood, dairy, packaged goods and everyday household items through its mobile application and website.

Orders placed via the Dingdong Fresh app are fulfilled from strategically located dark stores within target neighborhoods, enabling the company to promise delivery times as fast as 20–30 minutes.