Dingdong (Cayman) (NYSE:DDL) Shares Gap Down to $24.79

Shares of Dingdong (Cayman) Limited (NYSE:DDL) gapped down before the market opened on Thursday . The stock had previously closed at $24.79, but opened at $24.13. Dingdong (Cayman) shares last traded at $24.13, with a volume of 101 shares.

A number of analysts have issued reports on the stock. Morgan Stanley assumed coverage on shares of Dingdong (Cayman) in a report on Tuesday, July 27th. They issued an “overweight” rating and a $28.00 price objective for the company. Credit Suisse Group initiated coverage on shares of Dingdong (Cayman) in a research report on Thursday, August 5th. They issued an “outperform” rating for the company. Daiwa Capital Markets initiated coverage on shares of Dingdong (Cayman) in a research report on Friday, October 8th. They set a “buy” rating for the company. Zacks Investment Research cut shares of Dingdong (Cayman) from a “hold” rating to a “sell” rating in a research report on Tuesday, September 28th. Finally, Bank of America initiated coverage on shares of Dingdong (Cayman) in a research report on Wednesday, July 28th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $28.00.

The firm’s 50 day simple moving average is $22.02.

Several large investors have recently bought and sold shares of the company. Aspex Management HK Ltd bought a new stake in shares of Dingdong (Cayman) in the 2nd quarter valued at $84,870,000. Coatue Management LLC bought a new position in Dingdong (Cayman) during the second quarter worth $7,469,000. Boyu Capital Investment Management Co. Ltd bought a new position in Dingdong (Cayman) during the second quarter worth $5,734,000. Millennium Management LLC bought a new position in Dingdong (Cayman) during the second quarter worth $1,535,000. Finally, Marshall Wace North America L.P. bought a new position in Dingdong (Cayman) during the second quarter worth $766,000. 7.01% of the stock is currently owned by institutional investors.

About Dingdong (Cayman) (NYSE:DDL)

Dingdong (Cayman) Limited operates an e-commerce company in China. It offers vegetables, meat and eggs, fruits, and seafood products, as well as ready-to-eat, ready-to-cook, and ready-to-heat products; and dairy and bakery products, oil and seasonings, prepared meals, rice, noodles and other wheaten products, pre-packaged foods, drinks and liquor, flowers and green plants, and home care and personal care products.

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