Dingdong (Cayman) (NYSE:DDL) Sees Unusually-High Trading Volume – What’s Next?

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) shares saw unusually-strong trading volume on Monday . Approximately 784,138 shares traded hands during mid-day trading, an increase of 4% from the previous session’s volume of 750,597 shares.The stock last traded at $2.6350 and had previously closed at $2.88.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on DDL shares. Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Monday. Wall Street Zen cut Dingdong (Cayman) from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Dingdong (Cayman) Stock Down 7.3%

The firm’s 50 day moving average is $2.01 and its 200-day moving average is $2.08. The firm has a market cap of $587.03 million, a PE ratio of 14.62 and a beta of 0.47.

Hedge Funds Weigh In On Dingdong (Cayman)

Several large investors have recently added to or reduced their stakes in DDL. Public Employees Retirement System of Ohio boosted its stake in Dingdong (Cayman) by 36.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 206,206 shares of the company’s stock worth $417,000 after buying an additional 54,563 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Dingdong (Cayman) in the second quarter worth approximately $32,000. Y Intercept Hong Kong Ltd purchased a new stake in Dingdong (Cayman) in the second quarter valued at approximately $54,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Dingdong (Cayman) by 20.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,173,186 shares of the company’s stock valued at $6,410,000 after purchasing an additional 531,352 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Dingdong (Cayman) by 66.5% during the second quarter. JPMorgan Chase & Co. now owns 968,405 shares of the company’s stock worth $1,956,000 after purchasing an additional 386,795 shares during the last quarter. 24.66% of the stock is currently owned by hedge funds and other institutional investors.

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.