Dingdong (Cayman) (NYSE:DDL) Sees Large Volume Increase

Dingdong (Cayman) Limited (NYSE:DDL) saw strong trading volume on Friday . 544,903 shares traded hands during mid-day trading, an increase of 27% from the previous session’s volume of 428,812 shares.The stock last traded at $2.51 and had previously closed at $2.41.

Dingdong (Cayman) Price Performance

The business’s fifty day simple moving average is $1.97 and its two-hundred day simple moving average is $1.69. The company has a market cap of $588.21 million, a PE ratio of -83.00 and a beta of 0.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Platinum Investment Management Ltd. grew its position 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. Vanguard Group Inc. grew its position in shares of Dingdong (Cayman) by 0.4% in the first quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock valued at $5,917,000 after purchasing an additional 17,900 shares during the period. Renaissance Technologies LLC grew its position in shares of Dingdong (Cayman) by 63.4% in the second 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. Virtu Financial LLC acquired a new stake in shares of Dingdong (Cayman) in the first quarter valued at about $54,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Dingdong (Cayman) in the second quarter valued at about $86,000. Hedge funds and other 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.