Dingdong (Cayman) Sees Unusually Large Options Volume (NYSE:DDL)

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 3,051 call options on the company. This is an increase of approximately 357% compared to the average daily volume of 667 call options.

Hedge Funds Weigh In On Dingdong (Cayman)

Hedge funds and other institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. purchased a new position in Dingdong (Cayman) in the second quarter valued at approximately $32,000. Raymond James Financial Inc. raised its stake 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 acquiring an additional 10,000 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Dingdong (Cayman) during the 2nd quarter worth $54,000. Centiva Capital LP purchased a new stake in Dingdong (Cayman) in the third quarter valued at $56,000. Finally, BNP Paribas Financial Markets boosted its stake 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 valued at $67,000 after acquiring an additional 33,196 shares in the last quarter. 24.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DDL has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Monday, December 29th. Zacks Research downgraded Dingdong (Cayman) from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Finally, Wall Street Zen downgraded shares of Dingdong (Cayman) from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Dingdong (Cayman) Stock Down 2.0%

Shares of Dingdong (Cayman) stock traded down $0.07 on Wednesday, hitting $3.13. 3,501,115 shares of the company were exchanged, compared to its average volume of 1,692,840. Dingdong has a 1-year low of $1.65 and a 1-year high of $3.85. The stock has a market capitalization of $738.22 million, a price-to-earnings ratio of 18.38 and a beta of 0.43. The company has a 50-day moving average price of $2.53 and a 200 day moving average price of $2.20.

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.