Dingdong (Cayman) (NYSE:DDL) Trading Down 5.3% – What’s Next?

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL)’s share price traded down 5.3% during trading on Wednesday . The stock traded as low as $2.76 and last traded at $2.7650. 466,148 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 1,740,721 shares. The stock had previously closed at $2.92.

Analysts Set New Price Targets

DDL has been the subject of a number of recent research reports. Wall Street Zen lowered Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Dingdong (Cayman) Trading Down 6.3%

The stock has a market capitalization of $646.09 million, a P/E ratio of 16.09 and a beta of 0.42. The firm’s fifty day moving average is $2.20 and its 200-day moving average is $2.13.

Institutional Investors Weigh In On Dingdong (Cayman)

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. bought a new position in Dingdong (Cayman) in the 2nd quarter valued at $32,000. Raymond James Financial Inc. lifted its position in Dingdong (Cayman) by 66.7% during the 3rd quarter. Raymond James Financial Inc. now owns 25,000 shares of the company’s stock worth $52,000 after buying an additional 10,000 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Dingdong (Cayman) during the 2nd quarter worth about $54,000. Centiva Capital LP bought a new stake in Dingdong (Cayman) during the 3rd quarter worth about $56,000. Finally, BNP Paribas Financial Markets increased its position in Dingdong (Cayman) by 43,678.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 33,272 shares of the company’s stock valued at $67,000 after acquiring an additional 33,196 shares in the last quarter. 24.66% of the stock is owned by institutional investors and hedge funds.

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.