Dingdong (Cayman) (NYSE:DDL) Shares Down 4.8% – Here’s What Happened

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) traded down 4.8% during mid-day trading on Tuesday . The stock traded as low as $2.26 and last traded at $2.2460. Approximately 162,780 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 1,077,197 shares. The stock had previously closed at $2.36.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Friday. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Dingdong (Cayman) Stock Performance

The stock has a market cap of $546.87 million, a PE ratio of 9.69 and a beta of 0.46. The business has a 50 day moving average price of $2.23 and a two-hundred day moving average price of $2.50.

Dingdong (Cayman) (NYSE:DDL) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.20 EPS for the quarter. Dingdong (Cayman) had a return on equity of 36.51% and a net margin of 1.54%.

Institutional Investors Weigh In On Dingdong (Cayman)

A number of hedge funds have recently made changes to their positions in the business. Belvedere Trading LLC bought a new position in Dingdong (Cayman) during the fourth quarter valued at about $40,000. Raymond James Financial Inc. grew its position in shares of Dingdong (Cayman) by 66.7% during the 3rd quarter. Raymond James Financial Inc. now owns 25,000 shares of the company’s stock valued at $52,000 after acquiring an additional 10,000 shares during the period. Centiva Capital LP purchased a new stake in shares of Dingdong (Cayman) during the 3rd quarter worth approximately $56,000. Tairen Capital Ltd purchased a new stake in shares of Dingdong (Cayman) during the 2nd quarter worth approximately $64,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Dingdong (Cayman) by 43,678.9% in the 2nd 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 currently owned by institutional investors.

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.