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

Dingdong (Cayman) Limited (NYSE:DDL) shares saw unusually-strong trading volume on Thursday . Approximately 469,438 shares were traded during 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 company has a 50 day moving average of $2.12 and a 200 day moving average of $1.80. The firm has a market cap of $620.10 million, a P/E ratio of -87.50 and a beta of 0.29.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DDL. Acadian Asset Management LLC bought a new stake in Dingdong (Cayman) in the second quarter worth $86,000. Virtu Financial LLC bought a new position in shares of Dingdong (Cayman) in the 1st quarter valued at approximately $54,000. Renaissance Technologies LLC lifted its holdings in Dingdong (Cayman) by 63.4% in the 2nd quarter. Renaissance Technologies LLC now owns 690,200 shares of the company’s stock worth $1,373,000 after purchasing an additional 267,700 shares during the last quarter. Vanguard Group Inc. boosted its position in Dingdong (Cayman) by 0.4% during the first quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock worth $5,917,000 after purchasing an additional 17,900 shares during the period. Finally, Platinum Investment Management Ltd. grew its holdings 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 purchasing an additional 166,736 shares during the last quarter. 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.