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

Dingdong (Cayman) Limited (NYSE:DDL) shares saw strong trading volume on Friday . 379,169 shares traded hands during mid-day trading, a decline of 22% from the previous session’s volume of 483,562 shares.The stock last traded at $3.13 and had previously closed at $3.00.

Dingdong (Cayman) Stock Performance

The company’s fifty day moving average price is $2.20 and its 200 day moving average price is $1.85. The firm has a market capitalization of $748.85 million, a price-to-earnings ratio of -103.33 and a beta of 0.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DDL. Virtu Financial LLC bought a new stake in Dingdong (Cayman) in the first quarter valued at $54,000. Acadian Asset Management LLC bought a new stake in Dingdong (Cayman) in the 2nd quarter valued at about $86,000. Renaissance Technologies LLC boosted 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 valued at $1,373,000 after purchasing an additional 267,700 shares during the period. Vanguard Group Inc. grew its position in Dingdong (Cayman) by 0.4% in the 1st 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 last quarter. Finally, Platinum Investment Management Ltd. increased its stake in shares of Dingdong (Cayman) by 1.8% in 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 period. 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.