Dingdong (Cayman) Sees Unusually High Options Volume (NYSE:DDL)

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) was the recipient of unusually large options trading on Tuesday. Traders bought 2,369 put options on the company. This represents an increase of approximately 300% compared to the typical volume of 592 put options.

Dingdong (Cayman) Trading Up 2.9%

Shares of NYSE DDL traded up $0.08 on Tuesday, reaching $2.69. 875,663 shares of the company traded hands, compared to its average volume of 1,642,438. The stock has a market capitalization of $634.28 million, a PE ratio of 15.79 and a beta of 0.42. Dingdong has a fifty-two week low of $1.65 and a fifty-two week high of $3.85. The company has a 50 day moving average of $2.28 and a 200 day moving average of $2.15.

Wall Street Analyst Weigh In

Several research firms have issued reports on DDL. Wall Street Zen cut shares of Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Dingdong (Cayman) presently has a consensus rating of “Hold”.

Institutional Trading of Dingdong (Cayman)

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Dingdong (Cayman) by 8.2% during 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 last quarter. Qube Research & Technologies Ltd increased its stake in Dingdong (Cayman) by 10.0% during the third quarter. Qube Research & Technologies Ltd now owns 540,062 shares of the company’s stock worth $1,118,000 after acquiring an additional 48,947 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Dingdong (Cayman) by 8.2% during the third quarter. Public Employees Retirement System of Ohio now owns 223,125 shares of the company’s stock worth $462,000 after acquiring an additional 16,919 shares during the last quarter. Centiva Capital LP purchased a new position in shares of Dingdong (Cayman) in the 3rd quarter worth about $56,000. Finally, Raymond James Financial Inc. lifted its stake in shares of Dingdong (Cayman) by 66.7% in 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. 24.66% of the stock is owned by hedge funds and other institutional investors.

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.