Dingdong (Cayman) (NYSE:DDL) Trading Up 7.4% – Here’s Why

Shares of Dingdong (Cayman) Limited (NYSE:DDL) shot up 7.4% on Friday . The stock traded as high as $4.40 and last traded at $4.37. 158,714 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 687,652 shares. The stock had previously closed at $4.07.

Dingdong (Cayman) Stock Performance

The company has a market capitalization of $1.04 billion, a PE ratio of 49.00 and a beta of 0.37. The stock has a 50 day moving average price of $3.82 and a two-hundred day moving average price of $2.71.

Hedge Funds Weigh In On Dingdong (Cayman)

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Dingdong (Cayman) by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock worth $5,917,000 after acquiring an additional 17,900 shares in the last quarter. Quadrature Capital Ltd boosted its position in Dingdong (Cayman) by 87.9% during the third quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock worth $168,000 after purchasing an additional 22,302 shares during the period. Virtu Financial LLC acquired a new position in Dingdong (Cayman) during the third quarter valued at approximately $115,000. GSA Capital Partners LLP grew its holdings in Dingdong (Cayman) by 81.0% during the third quarter. GSA Capital Partners LLP now owns 72,561 shares of the company’s stock valued at $258,000 after purchasing an additional 32,478 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Dingdong (Cayman) in the second quarter valued at approximately $86,000. Institutional investors own 24.66% of the company’s stock.

Dingdong (Cayman) Company Profile

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.