Dingdong (Cayman) (NYSE:DDL) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Dingdong (Cayman) (NYSE:DDL) from a hold rating to a strong sell rating in a research note published on Monday morning,Zacks.com reports.

A number of other research analysts also recently commented on DDL. Wall Street Zen downgraded Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Dingdong (Cayman) Trading Up 3.3%

Shares of Dingdong (Cayman) stock opened at $2.70 on Monday. The firm has a market cap of $636.64 million, a PE ratio of 15.85 and a beta of 0.42. The stock has a 50 day moving average of $2.29 and a 200 day moving average of $2.15. Dingdong has a 12 month low of $1.65 and a 12 month high of $3.85.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Dingdong (Cayman) by 1.1% in the third quarter. Vanguard Group Inc. now owns 4,511,443 shares of the company’s stock worth $9,339,000 after buying an additional 48,638 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Dingdong (Cayman) by 20.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,173,186 shares of the company’s stock worth $6,410,000 after purchasing an additional 531,352 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Dingdong (Cayman) by 8.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,020,244 shares of the company’s stock valued at $7,520,000 after buying an additional 230,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Dingdong (Cayman) by 66.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 968,405 shares of the company’s stock valued at $1,956,000 after purchasing an additional 386,795 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Dingdong (Cayman) by 10.0% during the third quarter. Qube Research & Technologies Ltd now owns 540,062 shares of the company’s stock valued at $1,118,000 after buying an additional 48,947 shares during the last quarter. Institutional investors own 24.66% of the company’s stock.

About Dingdong (Cayman)

Dingdong (Cayman) Inc, which operates under the Dingdong Fresh brand, is a China-based online grocery and fresh food delivery platform. The company leverages a network of urban micro-fulfillment centers to offer consumers a wide selection of produce, meats, seafood, dairy, packaged goods and everyday household items through its mobile application and website.

Orders placed via the Dingdong Fresh app are fulfilled from strategically located dark stores within target neighborhoods, enabling the company to promise delivery times as fast as 20–30 minutes.