Dingdong (Cayman) (NYSE:DDL) Trading Up 4.8% – Here’s What Happened

Shares of Dingdong (Cayman) Limited (NYSE:DDL) shot up 4.8% during trading on Tuesday . The stock traded as high as $4.16 and last traded at $4.15. 602,557 shares were traded during trading, a decline of 14% from the average session volume of 698,950 shares. The stock had previously closed at $3.96.

Dingdong (Cayman) Trading Up 7.1 %

The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 46.78 and a beta of 0.37. The stock’s 50 day moving average is $3.88 and its 200 day moving average is $2.81.

Hedge Funds Weigh In On Dingdong (Cayman)

Institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in Dingdong (Cayman) in the 2nd quarter valued at $86,000. Virtu Financial LLC acquired a new stake in shares of Dingdong (Cayman) during the third quarter worth $115,000. Quadrature Capital Ltd boosted its position in shares of Dingdong (Cayman) by 87.9% in the third quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock valued at $168,000 after acquiring an additional 22,302 shares during the period. Centiva Capital LP acquired a new position in shares of Dingdong (Cayman) in the third quarter valued at about $170,000. Finally, XTX Topco Ltd bought a new position in Dingdong (Cayman) during the third quarter worth about $225,000. 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.