Dingdong (Cayman) (NYSE:DDL) Trading 5.9% Higher

Shares of Dingdong (Cayman) Limited (NYSE:DDLGet Free Report) rose 5.9% during mid-day trading on Tuesday . The company traded as high as $2.17 and last traded at $2.16. Approximately 202,369 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 415,443 shares. The stock had previously closed at $2.04.

Analyst Ratings Changes

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

Check Out Our Latest Stock Analysis on Dingdong (Cayman)

Dingdong (Cayman) Price Performance

The stock has a market cap of $514.98 million, a price-to-earnings ratio of -72.00 and a beta of 0.24. The business has a fifty day moving average of $1.55 and a 200 day moving average of $1.50.

Hedge Funds Weigh In On Dingdong (Cayman)

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Dingdong (Cayman) by 0.4% during the first 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. Virtu Financial LLC acquired a new stake in shares of Dingdong (Cayman) in the first quarter worth $54,000. Finally, Platinum Investment Management Ltd. increased its position in Dingdong (Cayman) by 1.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 9,308,945 shares of the company’s stock worth $13,963,000 after acquiring an additional 166,736 shares during the period. 24.66% of the stock is currently owned by institutional investors.

About Dingdong (Cayman)

(Get Free Report)

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.

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