Dingdong (Cayman) Target of Unusually Large Options Trading (NYSE:DDL)

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was the target of unusually large options trading activity on Monday. Stock traders bought 8,053 call options on the company. This is an increase of approximately 3,174% compared to the typical volume of 246 call options.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen lowered Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Monday, December 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Dingdong (Cayman) has a consensus rating of “Hold”.

Institutional Trading of Dingdong (Cayman)

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Dingdong (Cayman) by 1.1% in the third quarter. Vanguard Group Inc. now owns 4,511,443 shares of the company’s stock worth $9,339,000 after buying an additional 48,638 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Dingdong (Cayman) by 20.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,173,186 shares of the company’s stock worth $6,410,000 after purchasing an additional 531,352 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Dingdong (Cayman) by 66.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 968,405 shares of the company’s stock worth $1,956,000 after buying an additional 386,795 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in Dingdong (Cayman) by 10.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 540,062 shares of the company’s stock worth $1,118,000 after buying an additional 48,947 shares during the last quarter. Finally, Man Group plc boosted its holdings in Dingdong (Cayman) by 24.0% in the second quarter. Man Group plc now owns 531,235 shares of the company’s stock worth $1,073,000 after acquiring an additional 102,830 shares in the last quarter. Institutional investors own 24.66% of the company’s stock.

Dingdong (Cayman) Stock Down 7.1%

NYSE:DDL traded down $0.21 during mid-day trading on Monday, hitting $2.68. 2,424,531 shares of the company traded hands, compared to its average volume of 757,328. The stock’s fifty day moving average price is $1.98 and its 200-day moving average price is $2.07. Dingdong has a one year low of $1.65 and a one year high of $3.85. The firm has a market cap of $631.92 million, a price-to-earnings ratio of 15.74 and a beta of 0.47.

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.