Dingdong (Cayman) (NYSE:DDL) Stock Price Up 6.2% – Here’s Why

Shares of Dingdong (Cayman) Limited (NYSE:DDL) rose 6.2% during trading on Tuesday . The stock traded as high as $3.95 and last traded at $3.94. Approximately 626,505 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 672,508 shares. The stock had previously closed at $3.71.

Dingdong (Cayman) Stock Up 2.6 %

The company has a market capitalization of $949.64 million, a P/E ratio of 44.67 and a beta of 0.34. The business’s 50-day moving average is $3.59 and its two-hundred day moving average is $2.58.

Hedge Funds Weigh In On Dingdong (Cayman)

Several hedge funds have recently modified their holdings of the company. Virtu Financial LLC bought a new position in shares of Dingdong (Cayman) in the first quarter valued at approximately $54,000. Acadian Asset Management LLC bought a new stake in Dingdong (Cayman) during the second quarter worth $86,000. Quadrature Capital Ltd boosted its position in Dingdong (Cayman) by 87.9% in the third quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock worth $168,000 after purchasing an additional 22,302 shares during the last quarter. Centiva Capital LP bought a new position in Dingdong (Cayman) in the 3rd quarter valued at $170,000. Finally, XTX Topco Ltd purchased a new stake in shares of Dingdong (Cayman) during the 3rd quarter valued at $225,000. 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.