Dingdong (Cayman) (NYSE:DDL) Sees Large Volume Increase – Here’s Why

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) shares saw strong trading volume on Monday . 784,138 shares changed 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.

Wall Street Analysts Forecast Growth

DDL has been the subject of several recent analyst reports. Wall Street Zen lowered Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Monday, December 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Dingdong (Cayman) Stock Performance

The stock has a market capitalization of $639.00 million, a PE ratio of 15.91 and a beta of 0.47. The stock’s 50 day moving average is $1.98 and its two-hundred day moving average is $2.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Dingdong (Cayman) by 1.1% during the third quarter. Vanguard Group Inc. now owns 4,511,443 shares of the company’s stock worth $9,339,000 after buying an additional 48,638 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in 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 worth $6,410,000 after acquiring an additional 531,352 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Dingdong (Cayman) by 66.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 968,405 shares of the company’s stock valued at $1,956,000 after acquiring an additional 386,795 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in Dingdong (Cayman) by 10.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 540,062 shares of the company’s stock valued at $1,118,000 after acquiring an additional 48,947 shares during the last quarter. Finally, Man Group plc lifted its stake in Dingdong (Cayman) by 24.0% in the 2nd quarter. Man Group plc now owns 531,235 shares of the company’s stock worth $1,073,000 after purchasing an additional 102,830 shares in the last quarter. Hedge funds and other institutional investors own 24.66% of the company’s stock.

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.