Dingdong (Cayman) Limited (NYSE:DDL) Sees Large Increase in Short Interest

Dingdong (Cayman) Limited (NYSE:DDL) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 2,890,000 shares, an increase of 8.2% from the March 15th total of 2,670,000 shares. Based on an average trading volume of 326,200 shares, the short-interest ratio is currently 8.9 days. Currently, 2.0% of the company’s shares are sold short.

Hedge Funds Weigh In On Dingdong (Cayman)

Hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. acquired a new position in Dingdong (Cayman) during the 4th quarter valued at about $85,000. Jane Street Group LLC acquired a new position in Dingdong (Cayman) during the 2nd quarter valued at about $85,000. Vident Investment Advisory LLC acquired a new position in Dingdong (Cayman) during the 1st quarter valued at about $82,000. CV Advisors LLC acquired a new position in Dingdong (Cayman) during the 4th quarter valued at about $65,000. Finally, Bayesian Capital Management LP acquired a new position in Dingdong (Cayman) during the 1st quarter valued at about $64,000. Institutional investors and hedge funds own 24.66% of the company’s stock.

Dingdong (Cayman) Price Performance

Shares of DDL traded up $0.01 during trading hours on Wednesday, hitting $1.13. The stock had a trading volume of 226,000 shares, compared to its average volume of 317,105. The firm has a 50 day simple moving average of $1.26 and a 200-day simple moving average of $1.56. The firm has a market capitalization of $266.94 million, a P/E ratio of -18.67 and a beta of 0.10. Dingdong has a 1-year low of $1.07 and a 1-year high of $4.12.

Dingdong (Cayman) (NYSE:DDL) last issued its earnings results on Thursday, February 29th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.03). The firm had revenue of $703.31 million during the quarter, compared to analyst estimates of $700.70 million. Dingdong (Cayman) had a negative net margin of 0.51% and a negative return on equity of 11.16%. During the same quarter in the prior year, the business earned $0.08 earnings per share. Equities analysts predict that Dingdong will post 0.03 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.