Dingdong (Cayman) (NYSE:DDL) Stock Price Up 5.9% – What’s Next?

Dingdong (Cayman) Limited (NYSE:DDL)’s stock price rose 5.9% during trading on Wednesday . The company traded as high as $3.11 and last traded at $3.07. Approximately 308,523 shares traded hands during trading, a decline of 45% from the average daily volume of 560,396 shares. The stock had previously closed at $2.90.

Dingdong (Cayman) Price Performance

The business has a 50 day simple moving average of $2.68 and a 200 day simple moving average of $2.07. The company has a market capitalization of $722.86 million, a price-to-earnings ratio of -101.67 and a beta of 0.37.

Institutional Trading of Dingdong (Cayman)

A number of large investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased 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 acquiring an additional 267,700 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Dingdong (Cayman) during the second quarter worth $86,000. Virtu Financial LLC purchased a new stake in shares of Dingdong (Cayman) during the first quarter worth $54,000. Finally, Vanguard Group Inc. increased its position in shares of Dingdong (Cayman) by 0.4% during the first quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock worth $5,917,000 after acquiring an additional 17,900 shares during the period. 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.