Dingdong (Cayman) Limited (NYSE:DDL) Sees Large Growth in Short Interest

Dingdong (Cayman) Limited (NYSE:DDL) was the recipient of a significant growth in short interest during 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 company are sold short. Based on an average trading volume of 326,200 shares, the short-interest ratio is currently 8.9 days.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their target price on Dingdong (Cayman) from $1.40 to $1.15 and set an “underweight” rating for the company in a report on Tuesday, March 5th.

Dingdong (Cayman) Stock Down 2.6 %

DDL stock traded down $0.03 during mid-day trading on Wednesday, reaching $1.12. The company had a trading volume of 156,244 shares, compared to its average volume of 180,418. Dingdong has a one year low of $1.07 and a one year high of $4.12. The stock’s 50-day simple moving average is $1.26 and its two-hundred day simple moving average is $1.56. The stock has a market capitalization of $264.58 million, a P/E ratio of -18.67 and a beta of 0.10.

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

Institutional Trading of Dingdong (Cayman)

Hedge funds have recently added to or reduced their stakes in the business. Platinum Investment Management Ltd. increased its stake in shares of Dingdong (Cayman) by 1.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 9,308,945 shares of the company’s stock valued at $13,963,000 after acquiring an additional 166,736 shares during the period. Vanguard Group Inc. boosted its stake in Dingdong (Cayman) by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,831,709 shares of the company’s stock valued at $7,248,000 after buying an additional 58,600 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Dingdong (Cayman) by 0.4% during the second quarter. Goldman Sachs Group Inc. now owns 2,460,453 shares of the company’s stock worth $7,603,000 after acquiring an additional 8,878 shares during the period. Barclays PLC raised its position in Dingdong (Cayman) by 25.7% in the fourth quarter. Barclays PLC now owns 1,286,163 shares of the company’s stock worth $5,492,000 after acquiring an additional 262,770 shares in the last quarter. Finally, Softbank Group CORP. bought a new stake in Dingdong (Cayman) in the first quarter worth about $4,053,000. Institutional investors own 24.66% of the company’s stock.

About Dingdong (Cayman)

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.