Dingdong (Cayman) (NYSE:DDL) Shares Up 7% – Time to Buy?

Dingdong (Cayman) Limited (NYSE:DDL) shares shot up 7% on Tuesday . The company traded as high as $3.80 and last traded at $3.80. 1,794,962 shares were traded during trading, an increase of 248% from the average session volume of 515,590 shares. The stock had previously closed at $3.55.

Dingdong (Cayman) Price Performance

The firm has a market cap of $871.68 million, a price-to-earnings ratio of -123.00 and a beta of 0.29. The firm’s fifty day moving average is $2.37 and its two-hundred day moving average is $1.93.

Hedge Funds Weigh In On Dingdong (Cayman)

Hedge funds have recently made changes to their positions in the business. Platinum Investment Management Ltd. raised its position in shares of Dingdong (Cayman) by 1.8% during 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. Vanguard Group Inc. increased its position in shares of Dingdong (Cayman) by 0.4% in the first 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. Renaissance Technologies LLC lifted its position 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 acquiring an additional 267,700 shares in the last quarter. Virtu Financial LLC acquired a new position in Dingdong (Cayman) in the 1st quarter worth approximately $54,000. Finally, Acadian Asset Management LLC acquired a new position in Dingdong (Cayman) in the 2nd quarter worth approximately $86,000. 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.