Dingdong (Cayman) (NYSE:DDL) Stock Price Down 5.3% – Here’s What Happened

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) traded down 5.3% during trading on Wednesday . The stock traded as low as $2.76 and last traded at $2.7650. 466,148 shares changed hands during trading, a decline of 73% from the average session volume of 1,740,721 shares. The stock had previously closed at $2.92.

Analyst Upgrades and Downgrades

DDL has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dingdong (Cayman) in a research note on Monday, December 29th. Wall Street Zen cut Dingdong (Cayman) from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Dingdong (Cayman) currently has an average rating of “Hold”.

Dingdong (Cayman) Price Performance

The company’s fifty day simple moving average is $2.24 and its 200-day simple moving average is $2.14. The firm has a market capitalization of $618.92 million, a PE ratio of 15.41 and a beta of 0.42.

Institutional Trading of Dingdong (Cayman)

Institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in Dingdong (Cayman) by 8.2% in 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 purchasing an additional 230,000 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in Dingdong (Cayman) by 10.0% during the third quarter. Qube Research & Technologies Ltd now owns 540,062 shares of the company’s stock worth $1,118,000 after acquiring an additional 48,947 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in Dingdong (Cayman) by 8.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 223,125 shares of the company’s stock valued at $462,000 after acquiring an additional 16,919 shares in the last quarter. Centiva Capital LP purchased a new stake in Dingdong (Cayman) during the 3rd quarter valued at about $56,000. Finally, 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 in the last quarter. 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.