Stock Traders Purchase Large Volume of Call Options on Dingdong (Cayman) (NYSE:DDL)

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was the recipient of some unusual options trading activity on Monday. Stock traders acquired 8,053 call options on the company. This is an increase of 3,174% compared to the average daily volume of 246 call options.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen downgraded Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated 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, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Institutional Trading of Dingdong (Cayman)

Several institutional investors and hedge funds have recently bought and sold shares of the company. QRG Capital Management Inc. bought a new position in shares of Dingdong (Cayman) in the second quarter worth $32,000. Raymond James Financial Inc. boosted its position in shares of Dingdong (Cayman) by 66.7% during the 3rd quarter. Raymond James Financial Inc. now owns 25,000 shares of the company’s stock valued at $52,000 after acquiring an additional 10,000 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Dingdong (Cayman) during the second quarter worth about $54,000. Centiva Capital LP bought a new position in shares of Dingdong (Cayman) in the third quarter worth approximately $56,000. Finally, BNP Paribas Financial Markets raised its stake in Dingdong (Cayman) by 43,678.9% in the second quarter. BNP Paribas Financial Markets now owns 33,272 shares of the company’s stock valued at $67,000 after purchasing an additional 33,196 shares in the last quarter. 24.66% of the stock is currently owned by hedge funds and other institutional investors.

Dingdong (Cayman) Stock Performance

Shares of DDL opened at $2.68 on Tuesday. Dingdong has a 52-week low of $1.65 and a 52-week high of $3.85. The stock’s 50-day simple moving average is $2.00 and its 200 day simple moving average is $2.07. The stock has a market capitalization of $631.92 million, a price-to-earnings ratio of 15.74 and a beta of 0.47.

Dingdong (Cayman) Company Profile

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.