Dingdong (Cayman) (NYSE:DDL) Trading 7% Higher

Dingdong (Cayman) Limited (NYSE:DDL)’s share price was up 7% on Tuesday . The stock traded as high as $3.80 and last traded at $3.80. Approximately 1,794,962 shares traded hands during trading, an increase of 248% from the average daily volume of 515,590 shares. The stock had previously closed at $3.55.

Dingdong (Cayman) Price Performance

The firm has a market capitalization of $902.39 million, a price-to-earnings ratio of -118.33 and a beta of 0.29. The business has a fifty day moving average price of $2.26 and a two-hundred day moving average price of $1.88.

Hedge Funds Weigh In On Dingdong (Cayman)

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