Dingdong (Cayman) (NYSE:DDL) Sees Unusually-High Trading Volume

Shares of Dingdong (Cayman) Limited (NYSE:DDL) saw an uptick in trading volume on Thursday . 469,438 shares changed hands during mid-day 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 business’s 50-day moving average is $2.10 and its two-hundred day moving average is $1.79. The firm has a market capitalization of $651.99 million, a price-to-earnings ratio of -92.00 and a beta of 0.29.

Hedge Funds Weigh In On Dingdong (Cayman)

Several institutional investors and hedge funds have recently made changes to their positions in DDL. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 17,900 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Dingdong (Cayman) during the 1st quarter valued at about $54,000. Platinum Investment Management Ltd. grew its position in shares of Dingdong (Cayman) by 1.8% in the 4th 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 period. Renaissance Technologies LLC increased its stake 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 purchasing an additional 267,700 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Dingdong (Cayman) during the 2nd quarter worth approximately $86,000. Institutional investors and hedge funds own 24.66% of the company’s stock.

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.