Dingdong (Cayman) (NYSE:DDL) Sets New 12-Month High – What’s Next?

Dingdong (Cayman) Limited (NYSE:DDL) reached a new 52-week high on Monday . The stock traded as high as $4.70 and last traded at $4.63, with a volume of 680837 shares. The stock had previously closed at $4.41.

Dingdong (Cayman) Trading Down 7.1 %

The stock has a market capitalization of $1.03 billion, a PE ratio of 48.33 and a beta of 0.37. The firm’s 50-day simple moving average is $3.86 and its two-hundred day simple moving average is $2.75.

Hedge Funds Weigh In On Dingdong (Cayman)

Institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Dingdong (Cayman) by 3,090.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 684,345 shares of the company’s stock valued at $2,429,000 after acquiring an additional 662,894 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Dingdong (Cayman) by 0.4% in the first quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock worth $5,917,000 after purchasing an additional 17,900 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Dingdong (Cayman) by 63.4% in the second quarter. Renaissance Technologies LLC now owns 690,200 shares of the company’s stock worth $1,373,000 after purchasing an additional 267,700 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Dingdong (Cayman) by 81.0% in the third quarter. GSA Capital Partners LLP now owns 72,561 shares of the company’s stock worth $258,000 after purchasing an additional 32,478 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Dingdong (Cayman) in the second quarter worth $86,000. 24.66% of the stock is currently 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.