Dingdong (Cayman) Limited (NYSE:DDL – Get Free Report) rose 7% during trading on Monday . The company traded as high as $2.18 and last traded at $2.14. Approximately 398,725 shares traded hands during trading, a decline of 40% from the average daily volume of 664,349 shares. The stock had previously closed at $2.00.
Wall Street Analysts Forecast Growth
Separately, Daiwa Capital Markets lowered shares of Dingdong (Cayman) from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $7.50 to $2.80 in a research report on Monday, July 31st.
Dingdong (Cayman) Stock Up 5.8 %
Dingdong (Cayman) (NYSE:DDL – Get Free Report) last released its earnings results on Friday, September 1st. The company reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $667.55 million for the quarter. Dingdong (Cayman) had a negative return on equity of 84.52% and a negative net margin of 1.76%. Research analysts anticipate that Dingdong will post -0.05 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Dingdong (Cayman)
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE bought a new position in shares of Dingdong (Cayman) during the 4th quarter valued at about $33,000. Tower Research Capital LLC TRC purchased a new position in Dingdong (Cayman) during the 2nd quarter valued at approximately $31,000. Citadel Advisors LLC bought a new stake in Dingdong (Cayman) in the 3rd quarter worth approximately $37,000. Credit Suisse AG purchased a new stake in shares of Dingdong (Cayman) during the 4th quarter worth approximately $45,000. Finally, CV Advisors LLC purchased a new stake in shares of Dingdong (Cayman) during the 4th quarter worth approximately $65,000. Institutional investors own 24.66% of the company’s stock.
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.
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