Dingdong (Cayman) (NYSE:DDL) Trading Up 7.1% – What’s Next?

Dingdong (Cayman) Limited (NYSE:DDL) shares shot up 7.1% on Tuesday . The company traded as high as $3.36 and last traded at $3.33. 429,159 shares changed hands 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) Price Performance

The stock has a 50 day simple moving average of $2.73 and a 200-day simple moving average of $2.11. The firm has a market cap of $779.55 million, a PE ratio of -111.00 and a beta of 0.37.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in 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 purchasing an additional 17,900 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Dingdong (Cayman) during the 1st quarter valued at $54,000. Acadian Asset Management LLC purchased a new position in shares of Dingdong (Cayman) during the 2nd quarter valued at $86,000. Finally, Renaissance Technologies LLC boosted its holdings in 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 buying an additional 267,700 shares during the period. 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.