Dingdong (Cayman) (NYSE:DDL) Shares Down 1.4% – Here’s What Happened

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) shares were down 1.4% on Thursday . The stock traded as low as $2.37 and last traded at $2.3850. Approximately 434,259 shares changed hands during mid-day trading, an increase of 10% from the average session volume of 395,406 shares. The stock had previously closed at $2.42.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Dingdong (Cayman) from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Dingdong (Cayman) Price Performance

The stock’s fifty day simple moving average is $2.30 and its two-hundred day simple moving average is $2.58. The company has a market capitalization of $563.41 million, a price-to-earnings ratio of 9.94 and a beta of 0.46.

Hedge Funds Weigh In On Dingdong (Cayman)

A number of large investors have recently bought and sold shares of the business. Rangeley Capital LLC acquired a new position in Dingdong (Cayman) in the first quarter valued at approximately $128,000. Renaissance Technologies LLC raised its position in shares of Dingdong (Cayman) by 16.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,403,400 shares of the company’s stock worth $3,607,000 after purchasing an additional 199,600 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Dingdong (Cayman) during the 4th quarter worth approximately $400,000. Virtu Financial LLC bought a new stake in shares of Dingdong (Cayman) in the 4th quarter worth approximately $175,000. Finally, Mangrove Partners IM LLC bought a new stake in shares of Dingdong (Cayman) in the 4th quarter worth approximately $132,000. Institutional investors own 24.66% of the company’s stock.

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.