Dingdong (Cayman) (NYSE:DDL) Trading Up 8% – Here’s Why

Dingdong (Cayman) Limited (NYSE:DDL)’s share price rose 8% on Friday . The stock traded as high as $3.51 and last traded at $3.50. Approximately 427,068 shares traded hands during trading, a decline of 42% from the average daily volume of 732,391 shares. The stock had previously closed at $3.24.

Dingdong (Cayman) Stock Performance

The stock has a market cap of $843.33 million, a P/E ratio of 39.67 and a beta of 0.37. The firm has a 50-day moving average price of $4.02 and a 200-day moving average price of $2.98.

Hedge Funds Weigh In On Dingdong (Cayman)

Institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd grew its position in shares of Dingdong (Cayman) by 87.9% in the 3rd quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock worth $168,000 after buying an additional 22,302 shares during the period. Virtu Financial LLC bought a new stake in Dingdong (Cayman) during the third quarter worth about $115,000. GSA Capital Partners LLP grew its holdings in Dingdong (Cayman) by 81.0% in the third quarter. GSA Capital Partners LLP now owns 72,561 shares of the company’s stock worth $258,000 after purchasing an additional 32,478 shares during the period. Acadian Asset Management LLC bought a new position in shares of Dingdong (Cayman) during the second quarter valued at approximately $86,000. Finally, Centiva Capital LP purchased a new position in shares of Dingdong (Cayman) during the third quarter valued at approximately $170,000. Institutional investors 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.