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

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was the target of unusually large options trading activity on Wednesday. Traders purchased 3,051 call options on the stock. This represents an increase of approximately 357% compared to the average volume of 667 call options.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DDL. Wall Street Zen downgraded Dingdong (Cayman) from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Monday, December 29th. Finally, Zacks Research cut Dingdong (Cayman) from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Dingdong (Cayman) currently has an average rating of “Reduce”.

Dingdong (Cayman) Stock Down 14.5%

NYSE DDL opened at $2.74 on Friday. Dingdong has a twelve month low of $1.65 and a twelve month high of $3.85. The business’s fifty day moving average is $2.58 and its 200 day moving average is $2.21. The company has a market cap of $646.09 million, a price-to-earnings ratio of 16.09 and a beta of 0.43.

Institutional Investors Weigh In On Dingdong (Cayman)

Several hedge funds have recently added to or reduced their stakes in DDL. QRG Capital Management Inc. acquired a new stake in Dingdong (Cayman) during the 2nd quarter worth about $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 purchasing an additional 10,000 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Dingdong (Cayman) during the second quarter worth approximately $54,000. Centiva Capital LP bought a new stake in Dingdong (Cayman) in the third quarter worth approximately $56,000. Finally, BNP Paribas Financial Markets lifted 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 buying an additional 33,196 shares during the period. 24.66% of the stock is currently owned by institutional investors and hedge funds.

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.