Dingdong (Cayman) (NYSE:DDL) Stock Price Down 1.4% – What’s Next?

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) fell 1.4% on Thursday . The stock traded as low as $2.37 and last traded at $2.3850. Approximately 434,259 shares were traded during mid-day trading, an increase of 10% from the average session volume of 395,406 shares. The stock had previously closed at $2.42.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Dingdong (Cayman) from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Dingdong (Cayman) currently has an average rating of “Hold”.

Dingdong (Cayman) Trading Down 1.4%

The firm’s 50-day simple moving average is $2.30 and its 200 day simple moving average is $2.58. The stock has a market cap of $563.41 million, a P/E ratio of 9.94 and a beta of 0.46.

Hedge Funds Weigh In On Dingdong (Cayman)

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DDL. Boundless Plain Holdings Ltd acquired a new stake in Dingdong (Cayman) in the fourth quarter worth about $19,893,000. JPMorgan Chase & Co. grew its position in Dingdong (Cayman) by 66.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 968,405 shares of the company’s stock valued at $1,956,000 after buying an additional 386,795 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in Dingdong (Cayman) by 283.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 491,115 shares of the company’s stock valued at $992,000 after buying an additional 362,974 shares during the period. Norges Bank acquired a new position in Dingdong (Cayman) during the 2nd quarter valued at about $593,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Dingdong (Cayman) by 8.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,020,244 shares of the company’s stock valued at $7,520,000 after buying an additional 230,000 shares during the period. 24.66% of the stock is owned by institutional investors.

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.