Dingdong (Cayman) (NYSE:DDL) Shares Up 10% – Here’s What Happened

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL)’s stock price was up 10% during trading on Tuesday . The stock traded as high as $2.27 and last traded at $2.2550. Approximately 525,616 shares changed hands during trading, a decline of 22% from the average daily volume of 675,820 shares. The stock had previously closed at $2.05.

Analysts Set New Price Targets

DDL has been the subject of several recent research reports. Weiss Ratings reiterated 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 research note on Saturday, November 15th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Dingdong (Cayman) Stock Performance

The stock has a market capitalization of $617.74 million, a price-to-earnings ratio of 15.38 and a beta of 0.47. The firm’s fifty day simple moving average is $1.87 and its 200 day simple moving average is $2.04.

Institutional Trading of Dingdong (Cayman)

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. QRG Capital Management Inc. acquired a new position in Dingdong (Cayman) during the second quarter valued at approximately $32,000. Raymond James Financial Inc. boosted its holdings 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 valued at $52,000 after buying an additional 10,000 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Dingdong (Cayman) in the second quarter valued at $54,000. Centiva Capital LP bought a new position in shares of Dingdong (Cayman) in the third quarter valued at $56,000. Finally, BNP Paribas Financial Markets increased its holdings in Dingdong (Cayman) by 43,678.9% during the second quarter. BNP Paribas Financial Markets now owns 33,272 shares of the company’s stock worth $67,000 after buying an additional 33,196 shares during the last quarter. Institutional investors and hedge funds own 24.66% of the company’s stock.

About Dingdong (Cayman)

Dingdong (Cayman) Limited operates an e-commerce company in China. The company offers fresh groceries, including vegetables, meat and eggs, fruits, and seafood; prepared food, and other food products, such as baked goods, dairy, seasonings, beverages, instant food, oil, and snacks. It offers its products through traditional offline, as well as online channels through Dingdong Fresh app, mini-programs, and third-party platforms.