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

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) saw unusually large options trading on Tuesday. Stock traders acquired 2,369 put options on the company. This is an increase of 300% compared to the average daily volume of 592 put options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. increased its stake in Dingdong (Cayman) by 66.7% during the third quarter. Raymond James Financial Inc. now owns 25,000 shares of the company’s stock worth $52,000 after acquiring an additional 10,000 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Dingdong (Cayman) during the 2nd quarter worth about $32,000. Public Employees Retirement System of Ohio increased its position in Dingdong (Cayman) by 8.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 223,125 shares of the company’s stock worth $462,000 after purchasing an additional 16,919 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Dingdong (Cayman) during the 2nd quarter worth approximately $54,000. Finally, Centiva Capital LP purchased a new position in Dingdong (Cayman) in the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 24.66% of the company’s stock.

Dingdong (Cayman) Stock Performance

Shares of DDL stock opened at $2.70 on Wednesday. The firm has a market capitalization of $636.64 million, a price-to-earnings ratio of 15.85 and a beta of 0.42. The company has a 50 day moving average price of $2.29 and a 200 day moving average price of $2.15. Dingdong has a one year low of $1.65 and a one year high of $3.85.

Analyst Ratings Changes

A number of analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Monday, December 29th. Wall Street Zen lowered shares of Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

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.