Dingdong (Cayman) (NYSE:DDL) Sees Strong Trading Volume

Dingdong (Cayman) Limited (NYSE:DDL) shares saw strong trading volume on Thursday . 469,438 shares changed hands during mid-day trading, an increase of 2% from the previous session’s volume of 460,328 shares.The stock last traded at $2.73 and had previously closed at $2.60.

Dingdong (Cayman) Stock Performance

The firm has a 50 day moving average price of $2.12 and a two-hundred day moving average price of $1.80. The firm has a market capitalization of $620.10 million, a P/E ratio of -87.50 and a beta of 0.29.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DDL. Vanguard Group Inc. grew its stake in Dingdong (Cayman) by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock valued at $5,917,000 after acquiring an additional 17,900 shares in the last quarter. Virtu Financial LLC acquired a new position in Dingdong (Cayman) in the 1st quarter valued at approximately $54,000. Platinum Investment Management Ltd. lifted its position in Dingdong (Cayman) by 1.8% in the 4th quarter. Platinum Investment Management Ltd. now owns 9,308,945 shares of the company’s stock worth $13,963,000 after buying an additional 166,736 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Dingdong (Cayman) by 63.4% during the 2nd quarter. Renaissance Technologies LLC now owns 690,200 shares of the company’s stock valued at $1,373,000 after acquiring an additional 267,700 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Dingdong (Cayman) during the 2nd quarter valued at $86,000. Hedge funds and other institutional investors own 24.66% of the company’s stock.

About Dingdong (Cayman)

Dingdong (Cayman) Limited operates an e-commerce company in China. The company offers fresh groceries, including vegetables, meat and eggs, fruits, and seafood; prepared food, and other food products, such as baked goods, dairy, seasonings, beverages, instant food, oil, and snacks. It offers its products through traditional offline, as well as online channels through Dingdong Fresh app, mini-programs, and third-party platforms.