Dingdong (Cayman) (NYSE:DDL) Shares Gap Up to $2.74

Dingdong (Cayman) Limited (NYSE:DDL)’s share price gapped up before the market opened on Friday . The stock had previously closed at $2.74, but opened at $2.80. Dingdong (Cayman) shares last traded at $2.70, with a volume of 190,469 shares.

Dingdong (Cayman) Price Performance

The business has a 50 day simple moving average of $2.10 and a 200-day simple moving average of $1.79. The stock has a market capitalization of $623.64 million, a price-to-earnings ratio of -91.33 and a beta of 0.29.

Institutional Investors Weigh In On Dingdong (Cayman)

A number of institutional investors and hedge funds have recently modified their holdings of DDL. Renaissance Technologies LLC increased its position in Dingdong (Cayman) by 63.4% during the 2nd quarter. Renaissance Technologies LLC now owns 690,200 shares of the company’s stock worth $1,373,000 after buying an additional 267,700 shares during the period. Platinum Investment Management Ltd. boosted its holdings in shares of Dingdong (Cayman) by 1.8% during the 4th 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. Virtu Financial LLC acquired a new position in shares of Dingdong (Cayman) in the first quarter valued at approximately $54,000. Acadian Asset Management LLC bought a new position in shares of Dingdong (Cayman) during the second quarter valued at $86,000. Finally, Vanguard Group Inc. lifted its holdings in 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 buying an additional 17,900 shares during the period. 24.66% of the stock is owned by institutional investors.

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.