Dingdong (Cayman) (NYSE:DDL) Sees Strong Trading Volume – Still a Buy?

Dingdong (Cayman) Limited (NYSE:DDL) shares saw strong trading volume on Thursday . 292,954 shares traded hands during mid-day trading, a decline of 58% from the previous session’s volume of 698,256 shares.The stock last traded at $3.72 and had previously closed at $3.93.

Dingdong (Cayman) Price Performance

The firm’s fifty day moving average price is $3.99 and its two-hundred day moving average price is $2.90. The stock has a market cap of $907.12 million, a price-to-earnings ratio of 42.67 and a beta of 0.37.

Institutional Trading of Dingdong (Cayman)

Several hedge funds have recently bought and sold shares of DDL. Connor Clark & Lunn Investment Management Ltd. lifted its position in Dingdong (Cayman) by 3,090.3% in 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. Renaissance Technologies LLC grew its holdings 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 buying an additional 267,700 shares in the last quarter. Jane Street Group LLC raised its position in Dingdong (Cayman) by 110.8% in the 3rd quarter. Jane Street Group LLC now owns 248,189 shares of the company’s stock valued at $881,000 after buying an additional 130,470 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Dingdong (Cayman) during the 3rd quarter worth $244,000. Finally, XTX Topco Ltd bought a new stake in shares of Dingdong (Cayman) in the 3rd quarter worth $225,000. Institutional investors and hedge funds own 24.66% of the company’s stock.

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.