Dingdong (Cayman) (NYSE:DDL) Trading Down 4.9% - Should You Sell?

Key Points

• Dingdong shares fell 4.9% in midday trading to about $2.44, while trading volume was 73% below the average session volume.
• Analysts maintain a cautious stance: two analysts rate the stock “Hold,” and Weiss Ratings upgraded it only from “hold (c-)” to “hold (c).”
• Institutional investors own 24.66% of the company, with several funds—including Allspring Global Investments, Bank of America, and State Street—recently increasing their positions.

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL - Get Free Report) traded down 4.9% during mid-day trading on Monday . The stock traded as low as $2.46 and last traded at $2.4440. 315,105 shares traded hands during trading, a decline of 73% from the average session volume of 1,159,186 shares. The stock had previously closed at $2.57.

Analysts Set New Price Targets

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

Dingdong (Cayman) Stock Down 4.1%

The firm has a fifty day moving average of $2.28 and a 200-day moving average of $2.56. The firm has a market cap of $582.30 million, a P/E ratio of 10.27 and a beta of 0.46.

Hedge Funds Weigh In On Dingdong (Cayman)

A number of hedge funds and other institutional investors have recently bought and sold shares of DDL. Boundless Plain Holdings Ltd acquired a new position in shares of Dingdong (Cayman) in the 4th quarter valued at $19,893,000. Allspring Global Investments Holdings LLC increased its holdings in Dingdong (Cayman) by 8.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,020,244 shares of the company's stock valued at $7,520,000 after purchasing an additional 230,000 shares during the last quarter. Bank of America Corp DE increased its holdings in Dingdong (Cayman) by 12.7% in the second quarter. Bank of America Corp DE now owns 344,875 shares of the company's stock valued at $697,000 after purchasing an additional 38,756 shares during the last quarter. State Street Corp lifted its stake in Dingdong (Cayman) by 6.2% in the fourth quarter. State Street Corp now owns 275,642 shares of the company's stock valued at $686,000 after buying an additional 16,034 shares during the period. Finally, Norges Bank acquired a new position in Dingdong (Cayman) in the second quarter valued at about $593,000. 24.66% of the stock is owned by institutional investors.

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.

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