Dingdong (Cayman) (NYSE:DDL) Shares Up 7.1% – Here’s What Happened

Dingdong (Cayman) Limited (NYSE:DDL) shot up 7.1% during trading on Tuesday . The company traded as high as $3.36 and last traded at $3.33. 429,159 shares were traded during trading, a decline of 23% from the average session volume of 560,485 shares. The stock had previously closed at $3.11.

Dingdong (Cayman) Stock Performance

The company’s fifty day moving average price is $2.78 and its two-hundred day moving average price is $2.13. The firm has a market capitalization of $793.73 million, a PE ratio of -112.00 and a beta of 0.37.

Hedge Funds Weigh In On Dingdong (Cayman)

A number of hedge funds have recently made changes to their positions in DDL. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 17,900 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Dingdong (Cayman) in the 2nd quarter worth about $86,000. Virtu Financial LLC acquired a new position in shares of Dingdong (Cayman) in the 1st quarter valued at about $54,000. Finally, Renaissance Technologies LLC grew its holdings in shares of 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 period. Institutional investors and hedge funds 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.