Short Interest in Dingdong (Cayman) Limited (NYSE:DDL) Declines By 6.9%

Dingdong (Cayman) Limited (NYSE:DDL) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 3,240,000 shares, a decline of 6.9% from the October 15th total of 3,480,000 shares. Based on an average daily volume of 337,200 shares, the short-interest ratio is presently 9.6 days. Approximately 2.3% of the company’s shares are sold short.

Institutional Investors Weigh In On Dingdong (Cayman)

Several institutional investors and hedge funds have recently modified their holdings of DDL. Tower Research Capital LLC TRC acquired a new position in Dingdong (Cayman) during the 2nd quarter worth $31,000. Bank of America Corp DE acquired a new position in Dingdong (Cayman) during the 4th quarter worth $33,000. Citadel Advisors LLC acquired a new position in Dingdong (Cayman) during the 3rd quarter worth $37,000. Credit Suisse AG acquired a new position in Dingdong (Cayman) during the 4th quarter worth $45,000. Finally, XTX Topco Ltd acquired a new position in Dingdong (Cayman) during the 2nd quarter worth $49,000. Institutional investors and hedge funds own 24.66% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Daiwa Capital Markets cut shares of Dingdong (Cayman) from a “buy” rating to a “neutral” rating and lowered their price target for the company from $7.50 to $2.80 in a report on Monday, July 31st.

Dingdong (Cayman) Price Performance

Shares of DDL stock traded up $0.10 on Friday, hitting $2.00. The company’s stock had a trading volume of 475,154 shares, compared to its average volume of 665,870. Dingdong has a fifty-two week low of $1.60 and a fifty-two week high of $6.90. The firm’s fifty day moving average price is $1.91 and its 200-day moving average price is $2.48. The stock has a market capitalization of $472.46 million, a price-to-earnings ratio of -7.81 and a beta of 0.14.

Dingdong (Cayman) (NYSE:DDL) last released its quarterly earnings data on Friday, September 1st. The company reported ($0.03) earnings per share (EPS) for the quarter. Dingdong (Cayman) had a negative net margin of 1.76% and a negative return on equity of 84.52%. The business had revenue of $667.55 million during the quarter. Analysts predict that Dingdong will post -0.05 EPS for the current fiscal year.

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.