Dingdong (Cayman) (NYSE:DDL) Shares Gap Up to $3.16

Dingdong (Cayman) Limited (NYSE:DDL) shares gapped up before the market opened on Monday . The stock had previously closed at $3.16, but opened at $3.42. Dingdong (Cayman) shares last traded at $3.57, with a volume of 901,770 shares trading hands.

Dingdong (Cayman) Price Performance

The company has a 50 day moving average price of $2.29 and a 200-day moving average price of $1.90. The stock has a market capitalization of $901.21 million, a PE ratio of -127.17 and a beta of 0.29.

Institutional Investors Weigh In On Dingdong (Cayman)

Several institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in shares of Dingdong (Cayman) during the 1st quarter valued at about $54,000. Acadian Asset Management LLC bought a new position in shares of Dingdong (Cayman) in the 2nd quarter worth approximately $86,000. Renaissance Technologies LLC lifted its stake in shares of Dingdong (Cayman) by 63.4% in the 2nd quarter. Renaissance Technologies LLC now owns 690,200 shares of the company’s stock valued at $1,373,000 after purchasing an additional 267,700 shares during the period. Vanguard Group Inc. boosted its position in shares of Dingdong (Cayman) by 0.4% during the first 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 in the last quarter. Finally, Platinum Investment Management Ltd. grew its stake in Dingdong (Cayman) by 1.8% in the fourth quarter. Platinum Investment Management Ltd. now owns 9,308,945 shares of the company’s stock worth $13,963,000 after purchasing an additional 166,736 shares during the period. 24.66% of the stock is owned by hedge funds and other institutional investors.

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.