Dingdong (Cayman) (NYSE:DDL) Stock Price Down 4.9% – Here’s What Happened

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) shares traded down 4.9% on Monday . The company traded as low as $2.46 and last traded at $2.4440. Approximately 315,105 shares were traded during trading, a decline of 73% from the average daily volume of 1,159,186 shares. The stock had previously closed at $2.57.

Analyst Ratings Changes

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

Dingdong (Cayman) Stock Performance

The company has a market cap of $582.30 million, a PE ratio of 10.27 and a beta of 0.46. The company has a fifty day moving average of $2.28 and a two-hundred day moving average of $2.56.

Institutional Trading of Dingdong (Cayman)

Several institutional investors have recently bought and sold shares of DDL. Belvedere Trading LLC acquired a new position in shares of Dingdong (Cayman) during the 4th quarter worth approximately $40,000. Raymond James Financial Inc. grew its position in shares of Dingdong (Cayman) by 66.7% in the third quarter. Raymond James Financial Inc. now owns 25,000 shares of the company’s stock valued at $52,000 after purchasing an additional 10,000 shares during the period. Centiva Capital LP purchased a new stake in shares of Dingdong (Cayman) during the third quarter worth about $56,000. BNP Paribas Financial Markets lifted its stake 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 buying an additional 33,196 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of Dingdong (Cayman) during the third quarter valued at approximately $89,000. 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.