Dingdong (Cayman) (NYSE:DDL) Trading Up 8% – Time to Buy?

Dingdong (Cayman) Limited (NYSE:DDL) shares shot up 8% on Friday . The company traded as high as $3.51 and last traded at $3.50. 427,068 shares were traded during mid-day trading, a decline of 42% from the average session volume of 732,391 shares. The stock had previously closed at $3.24.

Dingdong (Cayman) Stock Performance

The firm has a fifty day simple moving average of $4.02 and a 200-day simple moving average of $2.96. The firm has a market cap of $833.88 million, a price-to-earnings ratio of 39.22 and a beta of 0.37.

Institutional Trading of Dingdong (Cayman)

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in Dingdong (Cayman) in the 3rd quarter valued at about $115,000. Acadian Asset Management LLC acquired a new stake in Dingdong (Cayman) during the 2nd quarter worth approximately $86,000. Quadrature Capital Ltd boosted its stake in Dingdong (Cayman) by 87.9% in 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 period. Centiva Capital LP bought a new position in Dingdong (Cayman) during the 3rd quarter worth $170,000. Finally, XTX Topco Ltd acquired a new stake in shares of Dingdong (Cayman) during the third quarter worth $225,000. 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.