Dingdong (Cayman) (NYSE:DDL) Trading Down 3.1%

Shares of Dingdong (Cayman) Limited (NYSE:DDL) were down 3.1% during mid-day trading on Friday . The stock traded as low as $2.17 and last traded at $2.18. Approximately 401,479 shares traded hands during trading, a decline of 4% from the average daily volume of 418,674 shares. The stock had previously closed at $2.25.

Analyst Ratings Changes

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

Dingdong (Cayman) Stock Performance

The firm has a fifty day moving average of $1.43 and a 200 day moving average of $1.50. The firm has a market capitalization of $496.08 million and a PE ratio of -71.00.

Dingdong (Cayman) (NYSE:DDL) last issued its quarterly earnings data 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 return on equity of 9.05% and a negative net margin of 0.18%. The firm had revenue of $703.31 million during the quarter, compared to analyst estimates of $700.70 million. During the same quarter in the prior year, the firm earned $0.08 EPS. Research analysts forecast that Dingdong will post 0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in Dingdong (Cayman) during the first quarter worth about $54,000. Vanguard Group Inc. raised its position in shares of Dingdong (Cayman) by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock worth $5,917,000 after purchasing an additional 17,900 shares during the period. Finally, Platinum Investment Management Ltd. lifted its holdings in shares of Dingdong (Cayman) by 1.8% in the 4th quarter. Platinum Investment Management Ltd. now owns 9,308,945 shares of the company’s stock worth $13,963,000 after purchasing an additional 166,736 shares during the last quarter. Institutional investors and hedge funds 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 baked goods, dairy, seasonings, beverages, instant food, oil, and snacks. It offers its products through traditional offline, as well as online channels through Dingdong Fresh app, mini-programs, and third-party platforms.