Dingdong (Cayman) (NYSE:DDL) Trading Up 7.1% – Time to Buy?

Dingdong (Cayman) Limited (NYSE:DDL) shares shot up 7.1% on Tuesday . The company traded as high as $3.36 and last traded at $3.33. 429,159 shares were traded during trading, a decline of 23% from the average session volume of 560,485 shares. The stock had previously closed at $3.11.

Dingdong (Cayman) Stock Performance

The company has a 50-day moving average of $2.78 and a 200-day moving average of $2.13. The stock has a market capitalization of $793.73 million, a price-to-earnings ratio of -112.00 and a beta of 0.37.

Institutional Trading of Dingdong (Cayman)

A number of large investors have recently made changes to their positions in DDL. Vanguard Group Inc. lifted its holdings in Dingdong (Cayman) by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock valued at $5,917,000 after purchasing an additional 17,900 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Dingdong (Cayman) during the first quarter valued at approximately $54,000. Acadian Asset Management LLC acquired a new stake in Dingdong (Cayman) during the second quarter worth approximately $86,000. Finally, Renaissance Technologies LLC boosted its position in 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 last quarter. 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.