Dingdong (Cayman) (NYSE:DDL) Trading 7.2% Higher – Still a Buy?

Dingdong (Cayman) Limited (NYSE:DDL) shot up 7.2% during trading on Friday . The stock traded as high as $3.85 and last traded at $3.78. 435,063 shares traded hands during trading, a decline of 16% from the average session volume of 516,771 shares. The stock had previously closed at $3.52.

Dingdong (Cayman) Price Performance

The firm has a market capitalization of $875.23 million, a PE ratio of 41.17 and a beta of 0.45. The firm has a fifty day moving average price of $3.49 and a 200 day moving average price of $3.33.

Institutional Investors Weigh In On Dingdong (Cayman)

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Dingdong (Cayman) by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,459,769 shares of the company’s stock valued at $17,908,000 after purchasing an additional 42,772 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Dingdong (Cayman) by 195.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,020,816 shares of the company’s stock valued at $6,628,000 after purchasing an additional 1,336,471 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Dingdong (Cayman) by 164.8% during the fourth quarter. Marshall Wace LLP now owns 1,924,912 shares of the company’s stock valued at $6,314,000 after purchasing an additional 1,198,006 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Dingdong (Cayman) by 397.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,776,675 shares of the company’s stock worth $5,827,000 after acquiring an additional 1,419,190 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Dingdong (Cayman) by 26.8% in the 4th quarter. Millennium Management LLC now owns 813,024 shares of the company’s stock worth $2,667,000 after acquiring an additional 171,832 shares in the last quarter. 24.66% of the stock is owned by hedge funds and other institutional investors.

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.