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

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totaling 2,806,602 shares, an increase of 113.4% from the December 31st total of 1,315,395 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average trading volume of 1,751,278 shares, the short-interest ratio is presently 1.6 days. Based on an average trading volume of 1,751,278 shares, the short-interest ratio is presently 1.6 days. Approximately 1.7% of the company’s shares are short sold.

Analyst Ratings Changes

DDL has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Monday, December 29th. Wall Street Zen cut Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Zacks Research cut shares of Dingdong (Cayman) from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Dingdong (Cayman)

Several institutional investors and hedge funds have recently made changes to their positions in the company. QRG Capital Management Inc. bought a new stake in Dingdong (Cayman) during the second quarter valued at $32,000. Raymond James Financial Inc. grew its stake in Dingdong (Cayman) by 66.7% in the third quarter. Raymond James Financial Inc. now owns 25,000 shares of the company’s stock valued at $52,000 after acquiring an additional 10,000 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Dingdong (Cayman) in the 2nd quarter valued at $54,000. Centiva Capital LP acquired a new position in shares of Dingdong (Cayman) during the third quarter valued at about $56,000. Finally, BNP Paribas Financial Markets increased its holdings in Dingdong (Cayman) by 43,678.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 33,272 shares of the company’s stock worth $67,000 after purchasing an additional 33,196 shares in the last quarter. Institutional investors and hedge funds own 24.66% of the company’s stock.

Dingdong (Cayman) Stock Performance

DDL opened at $2.87 on Friday. The firm’s fifty day moving average is $2.47 and its two-hundred day moving average is $2.19. The firm has a market cap of $677.98 million, a PE ratio of 16.88 and a beta of 0.42. Dingdong has a twelve month low of $1.65 and a twelve month high of $3.85.

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.