Dingdong (Cayman) (NYSE:DDL) Stock Price Up 12.1% – Here’s What Happened

Shares of Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) were up 12.1% during trading on Friday . The company traded as high as $2.1188 and last traded at $2.1850. Approximately 505,718 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 663,186 shares. The stock had previously closed at $1.95.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Monday, December 1st. Wall Street Zen cut Dingdong (Cayman) from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Dingdong (Cayman) Stock Up 11.0%

The firm has a market capitalization of $511.44 million, a PE ratio of 12.74 and a beta of 0.47. The stock’s fifty day simple moving average is $1.84 and its 200 day simple moving average is $2.03.

Institutional Trading of Dingdong (Cayman)

Hedge funds and other institutional investors have recently bought and sold shares of the stock. QRG Capital Management Inc. purchased a new position in shares of Dingdong (Cayman) during the 2nd quarter valued at about $32,000. Raymond James Financial Inc. lifted its holdings in Dingdong (Cayman) by 66.7% during the third 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 in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Dingdong (Cayman) during the second quarter valued at approximately $54,000. Centiva Capital LP bought a new position in shares of Dingdong (Cayman) in the third quarter worth approximately $56,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Dingdong (Cayman) in the first quarter worth $81,000. Hedge funds and other institutional investors 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.