Dingdong (Cayman) (NYSE:DDL) Shares Gap Down – What’s Next?

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $3.20, but opened at $2.77. Dingdong (Cayman) shares last traded at $2.8560, with a volume of 14,557,921 shares traded.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen lowered shares of Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research 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 downgraded shares of Dingdong (Cayman) from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Dingdong (Cayman) currently has an average rating of “Reduce”.

Dingdong (Cayman) Stock Performance

The stock’s fifty day moving average is $2.56 and its two-hundred day moving average is $2.21. The firm has a market cap of $653.18 million, a price-to-earnings ratio of 16.26 and a beta of 0.43.

Institutional Investors Weigh In On Dingdong (Cayman)

Several institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in Dingdong (Cayman) by 8.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,020,244 shares of the company’s stock worth $7,520,000 after buying an additional 230,000 shares during the period. Qube Research & Technologies Ltd raised its stake in shares of Dingdong (Cayman) by 10.0% in the third quarter. Qube Research & Technologies Ltd now owns 540,062 shares of the company’s stock valued at $1,118,000 after purchasing an additional 48,947 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of 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 valued at $462,000 after acquiring an additional 16,919 shares in the last quarter. Centiva Capital LP acquired a new stake in Dingdong (Cayman) during the third quarter valued at approximately $56,000. Finally, Raymond James Financial Inc. grew its position in Dingdong (Cayman) by 66.7% in the third 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 period. 24.66% of the stock is currently owned by institutional investors and hedge funds.

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.