Dingdong (Cayman) (NYSE:DDL) Trading 7% Higher

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

Dingdong (Cayman) Price Performance

The firm has a market capitalization of $902.39 million, a PE ratio of -118.33 and a beta of 0.29. The company’s fifty day simple moving average is $2.26 and its 200-day simple moving average is $1.88.

Institutional Investors Weigh In On Dingdong (Cayman)

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings 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 acquiring an additional 17,900 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Dingdong (Cayman) in the 2nd quarter valued at $86,000. Virtu Financial LLC acquired a new position in Dingdong (Cayman) in the 1st quarter valued at $54,000. Platinum Investment Management Ltd. lifted its holdings in 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 in the last quarter. Finally, 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 worth $1,373,000 after purchasing an additional 267,700 shares during the last quarter. 24.66% of the stock is currently owned by institutional investors and hedge funds.

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.