Dingdong (Cayman) (NYSE:DDL) Shares Down 4.9% – Should You Sell?

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was down 4.9% during trading on Monday . The stock traded as low as $2.46 and last traded at $2.4440. 315,105 shares changed hands during trading, a decline of 73% from the average daily volume of 1,159,186 shares. The stock had previously closed at $2.57.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Dingdong (Cayman) from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Dingdong (Cayman) Price Performance

The stock has a market cap of $552.07 million, a PE ratio of 9.74 and a beta of 0.46. The company’s fifty day moving average is $2.28 and its 200-day moving average is $2.55.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. boosted its holdings in Dingdong (Cayman) by 66.7% in the 3rd quarter. Raymond James Financial Inc. now owns 25,000 shares of the company’s stock valued at $52,000 after purchasing an additional 10,000 shares during the last quarter. State Street Corp boosted its holdings in Dingdong (Cayman) by 6.2% in the fourth quarter. State Street Corp now owns 275,642 shares of the company’s stock valued at $686,000 after purchasing an additional 16,034 shares during the period. Belvedere Trading LLC acquired a new stake in Dingdong (Cayman) in the fourth quarter valued at approximately $40,000. Public Employees Retirement System of Ohio increased its holdings in Dingdong (Cayman) by 8.2% in the third quarter. Public Employees Retirement System of Ohio now owns 223,125 shares of the company’s stock valued at $462,000 after buying an additional 16,919 shares during the last quarter. Finally, Centiva Capital LP acquired a new position in Dingdong (Cayman) in the third quarter valued at approximately $56,000. 24.66% of the stock is 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.