Dingdong (Cayman) (NYSE:DDL) Sees Strong Trading Volume

Dingdong (Cayman) Limited (NYSE:DDL) shares saw an uptick in trading volume on Wednesday . 949,908 shares were traded during trading, an increase of 133% from the previous session’s volume of 407,412 shares.The stock last traded at $2.13 and had previously closed at $1.92.

Analyst Ratings Changes

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

Dingdong (Cayman) Stock Down 5.3 %

The firm has a 50 day simple moving average of $1.43 and a two-hundred day simple moving average of $1.50. The stock has a market capitalization of $503.17 million and a P/E ratio of -71.00.

Dingdong (Cayman) (NYSE:DDL) last released its earnings results on Thursday, February 29th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $703.31 million for the quarter, compared to the consensus estimate of $700.70 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. On average, research analysts predict that Dingdong will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Dingdong (Cayman) by 0.4% in the first quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock valued at $5,917,000 after purchasing an additional 17,900 shares during the period. Virtu Financial LLC acquired a new stake in Dingdong (Cayman) in the first quarter valued at $54,000. Finally, Platinum Investment Management Ltd. increased its holdings in Dingdong (Cayman) by 1.8% in the fourth quarter. Platinum Investment Management Ltd. now owns 9,308,945 shares of the company’s stock valued at $13,963,000 after purchasing an additional 166,736 shares during the period. 24.66% of the stock is currently owned by institutional investors.

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.