Investors Purchase Large Volume of Dingdong (Cayman) Call Options (NYSE:DDL)

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) saw unusually large options trading activity on Wednesday. Traders purchased 3,051 call options on the company. This is an increase of 357% compared to the average daily volume of 667 call options.

Institutional Investors Weigh In On Dingdong (Cayman)

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Dingdong (Cayman) by 20.1% during 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 acquiring an additional 531,352 shares during the last quarter. QRG Capital Management Inc. purchased a new position in Dingdong (Cayman) during the 2nd quarter valued at about $32,000. Y Intercept Hong Kong Ltd purchased a new stake in Dingdong (Cayman) in the 2nd quarter worth approximately $54,000. Centiva Capital LP purchased a new stake in Dingdong (Cayman) in the 3rd quarter worth approximately $56,000. Finally, Raymond James Financial Inc. grew its position in shares of Dingdong (Cayman) by 66.7% in the 3rd quarter. Raymond James Financial Inc. now owns 25,000 shares of the company’s stock worth $52,000 after buying an additional 10,000 shares during the last quarter. 24.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DDL shares. Zacks Research downgraded Dingdong (Cayman) from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce”.

Dingdong (Cayman) Price Performance

Shares of DDL stock opened at $3.18 on Thursday. The business has a 50-day moving average of $2.56 and a 200 day moving average of $2.21. The stock has a market capitalization of $751.21 million, a PE ratio of 18.71 and a beta of 0.43. Dingdong has a 1-year low of $1.65 and a 1-year high of $3.85.

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.