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

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was the target of some unusual options trading activity on Tuesday. Stock investors bought 2,369 put options on the company. This is an increase of approximately 300% compared to the average volume of 592 put options.

Institutional Trading of Dingdong (Cayman)

Institutional investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. bought a new stake in shares of Dingdong (Cayman) in the 2nd quarter worth about $32,000. Raymond James Financial Inc. lifted its holdings 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 during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Dingdong (Cayman) in the 2nd quarter valued at approximately $54,000. Centiva Capital LP acquired a new stake in shares of Dingdong (Cayman) during the 3rd quarter valued at approximately $56,000. Finally, BNP Paribas Financial Markets boosted its holdings in Dingdong (Cayman) by 43,678.9% in the second quarter. BNP Paribas Financial Markets now owns 33,272 shares of the company’s stock worth $67,000 after purchasing an additional 33,196 shares during the period. 24.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DDL has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Monday, December 29th. Wall Street Zen downgraded Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Dingdong (Cayman) presently has a consensus rating of “Hold”.

Dingdong (Cayman) Stock Performance

Shares of NYSE:DDL traded up $0.08 during trading on Tuesday, hitting $2.69. The company’s stock had a trading volume of 875,663 shares, compared to its average volume of 1,642,438. Dingdong has a fifty-two week low of $1.65 and a fifty-two week high of $3.85. The stock’s 50-day moving average price is $2.28 and its two-hundred day moving average price is $2.15. The company has a market capitalization of $634.28 million, a PE ratio of 15.79 and a beta of 0.42.

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.