Dingdong (Cayman) Target of Unusually High Options Trading (NYSE:DDL)

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was the target of some unusual options trading on Monday. Stock investors acquired 8,053 call options on the stock. This represents an increase of 3,174% compared to the average volume of 246 call options.

Dingdong (Cayman) Stock Performance

NYSE DDL traded down $0.21 during trading hours on Monday, hitting $2.68. The company had a trading volume of 2,424,531 shares, compared to its average volume of 757,328. The firm has a market capitalization of $631.92 million, a price-to-earnings ratio of 15.74 and a beta of 0.47. Dingdong has a 52 week low of $1.65 and a 52 week high of $3.85. The firm has a 50 day simple moving average of $1.98 and a 200 day simple moving average of $2.07.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DDL. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Dingdong (Cayman) by 20.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,173,186 shares of the company’s stock valued at $6,410,000 after buying an additional 531,352 shares during the period. JPMorgan Chase & Co. increased its stake in Dingdong (Cayman) by 66.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 968,405 shares of the company’s stock worth $1,956,000 after acquiring an additional 386,795 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Dingdong (Cayman) by 283.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 491,115 shares of the company’s stock valued at $992,000 after acquiring an additional 362,974 shares in the last quarter. Norges Bank bought a new stake in shares of Dingdong (Cayman) during the 2nd quarter valued at about $593,000. Finally, GSA Capital Partners LLP grew its holdings in shares of Dingdong (Cayman) by 188.4% during the third quarter. GSA Capital Partners LLP now owns 304,692 shares of the company’s stock worth $631,000 after purchasing an additional 199,033 shares in the last quarter. 24.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DDL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Monday, December 22nd. Wall Street Zen downgraded Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Dingdong (Cayman) Company Profile

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.