Dingdong (Cayman) Limited (NYSE:DDL) Sees Significant Decline in Short Interest

Dingdong (Cayman) Limited (NYSE:DDL) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 1,140,000 shares, a decline of 7.3% from the October 31st total of 1,230,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is currently 0.9 days. Approximately 0.8% of the company’s stock are sold short.

Dingdong (Cayman) Trading Up 2.7 %

DDL traded up $0.11 during midday trading on Monday, reaching $4.40. The company’s stock had a trading volume of 1,450,578 shares, compared to its average volume of 680,991. The stock’s 50-day moving average is $3.68 and its 200-day moving average is $2.63. Dingdong has a 1 year low of $1.07 and a 1 year high of $4.60. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 47.78 and a beta of 0.34.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DDL. Virtu Financial LLC purchased a new stake in Dingdong (Cayman) during the 1st quarter valued at $54,000. Acadian Asset Management LLC bought a new stake in shares of Dingdong (Cayman) in the second quarter worth $86,000. Quadrature Capital Ltd increased its position in shares of Dingdong (Cayman) by 87.9% during the 3rd quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock valued at $168,000 after purchasing an additional 22,302 shares during the last quarter. Centiva Capital LP purchased a new position in shares of Dingdong (Cayman) in the third quarter worth approximately $170,000. Finally, XTX Topco Ltd purchased a new stake in Dingdong (Cayman) during the third quarter valued at approximately $225,000. 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.