Dingdong (Cayman) (NYSE:DDL) Sees Large Volume Increase – What’s Next?

Dingdong (Cayman) Limited (NYSE:DDL) shares saw unusually-high trading volume on Wednesday . Approximately 770,746 shares changed hands during trading, an increase of 20% from the previous session’s volume of 642,346 shares.The stock last traded at $4.13 and had previously closed at $3.92.

Dingdong (Cayman) Stock Performance

The stock has a market cap of $1.01 billion, a PE ratio of 47.00 and a beta of 0.34. The company’s 50-day moving average price is $3.31 and its 200 day moving average price is $2.41.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DDL. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Dingdong (Cayman) by 3,090.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 684,345 shares of the company’s stock worth $2,429,000 after acquiring an additional 662,894 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Dingdong (Cayman) by 81.0% during 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 in the last quarter. Renaissance Technologies LLC lifted its position in shares of Dingdong (Cayman) by 63.4% during the second 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. Acadian Asset Management LLC purchased a new position in shares of Dingdong (Cayman) in the second quarter valued at approximately $86,000. Finally, Virtu Financial LLC acquired a new position in shares of Dingdong (Cayman) in the first quarter valued at approximately $54,000. Hedge funds and other 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.