Dingdong (Cayman) Limited (NYSE:DDL) Sees Significant Decline in Short Interest

Dingdong (Cayman) Limited (NYSE:DDL) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totalling 1,580,000 shares, a decline of 7.1% from the July 15th total of 1,700,000 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 491,600 shares, the short-interest ratio is currently 3.2 days.

Dingdong (Cayman) Price Performance

Shares of Dingdong (Cayman) stock opened at $2.02 on Wednesday. Dingdong has a 1 year low of $1.07 and a 1 year high of $2.38. The firm has a market cap of $477.18 million, a price-to-earnings ratio of -67.33 and a beta of 0.25. The company has a 50-day moving average of $1.91 and a 200 day moving average of $1.62.

Hedge Funds Weigh In On Dingdong (Cayman)

Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC boosted 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 worth $1,373,000 after purchasing an additional 267,700 shares in the last quarter. Platinum Investment Management Ltd. raised its stake in Dingdong (Cayman) by 1.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 9,308,945 shares of the company’s stock valued at $13,963,000 after buying an additional 166,736 shares during the last quarter. Virtu Financial LLC bought a new stake in Dingdong (Cayman) in the first quarter worth $54,000. Acadian Asset Management LLC purchased a new stake in shares of Dingdong (Cayman) in the second quarter worth $86,000. Finally, Vanguard Group Inc. increased 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 in the last quarter. Institutional investors 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.