Dingdong (Cayman) (NYSE:DDL) Shares Down 7.3% – Should You Sell?

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) traded down 7.3% during mid-day trading on Tuesday . The stock traded as low as $2.41 and last traded at $2.4850. 1,955,633 shares changed hands during trading, an increase of 157% from the average session volume of 761,536 shares. The stock had previously closed at $2.68.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DDL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Monday, December 22nd. Wall Street Zen cut Dingdong (Cayman) from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Dingdong (Cayman) currently has an average rating of “Hold”.

Dingdong (Cayman) Price Performance

The stock has a market cap of $601.21 million, a price-to-earnings ratio of 14.97 and a beta of 0.47. The company’s 50 day moving average is $2.00 and its 200 day moving average is $2.07.

Institutional Investors Weigh In On Dingdong (Cayman)

A number of institutional investors and hedge funds have recently modified their holdings of DDL. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Dingdong (Cayman) by 20.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,173,186 shares of the company’s stock worth $6,410,000 after buying an additional 531,352 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Dingdong (Cayman) by 36.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 206,206 shares of the company’s stock valued at $417,000 after acquiring an additional 54,563 shares in 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 acquired a new position in Dingdong (Cayman) during the second quarter worth about $54,000. Finally, Centiva Capital LP purchased a new stake in shares of Dingdong (Cayman) in the third quarter valued at about $56,000. Institutional investors and hedge funds 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.