Dingdong (Cayman) Limited (NYSE:DDL) Short Interest Update

Dingdong (Cayman) Limited (NYSE:DDL) 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. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily volume of 326,200 shares, the days-to-cover ratio is currently 8.9 days.

Dingdong (Cayman) Price Performance

Shares of Dingdong (Cayman) stock traded up $0.02 during trading on Wednesday, reaching $1.14. 217,927 shares of the stock traded hands, compared to its average volume of 316,993. Dingdong has a 52-week low of $1.07 and a 52-week high of $4.12. The business has a fifty day simple moving average of $1.26 and a two-hundred day simple moving average of $1.56. The company has a market capitalization of $268.12 million, a price-to-earnings ratio of -18.67 and a beta of 0.10.

Dingdong (Cayman) (NYSE:DDL) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). Dingdong (Cayman) had a negative net margin of 0.51% and a negative return on equity of 11.16%. The firm had revenue of $703.31 million for the quarter, compared to the consensus estimate of $700.70 million. During the same period in the previous year, the company posted $0.08 earnings per share. On average, research analysts predict that Dingdong will post 0.03 earnings per share for the current fiscal year.

Institutional Trading of Dingdong (Cayman)

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new position in Dingdong (Cayman) in the 2nd quarter worth about $31,000. Bank of America Corp DE purchased a new stake in shares of Dingdong (Cayman) in the fourth quarter valued at approximately $33,000. Citadel Advisors LLC bought a new position in Dingdong (Cayman) in the third quarter worth approximately $37,000. Credit Suisse AG purchased a new position in Dingdong (Cayman) during the 4th quarter worth $45,000. Finally, XTX Topco Ltd purchased a new position in Dingdong (Cayman) during the 2nd quarter worth $49,000. 24.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their target price on shares of Dingdong (Cayman) from $1.40 to $1.15 and set an “underweight” rating on the stock 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.