Dingdong (Cayman) (NYSE:DDL) Shares Gap Up – Here’s What Happened

Dingdong (Cayman) Limited (NYSE:DDL)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $3.38, but opened at $3.56. Dingdong (Cayman) shares last traded at $3.47, with a volume of 361,031 shares trading hands.

Dingdong (Cayman) Trading Up 2.8 %

The firm has a market cap of $820.90 million, a P/E ratio of 38.61 and a beta of 0.45. The company has a fifty day moving average price of $3.58 and a two-hundred day moving average price of $3.25.

Hedge Funds Weigh In On Dingdong (Cayman)

Several institutional investors have recently modified their holdings of the business. Marshall Wace LLP lifted its holdings in shares of Dingdong (Cayman) by 164.8% during the 4th 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 in the last quarter. Jump Financial LLC bought a new stake in Dingdong (Cayman) in the 4th quarter valued at approximately $512,000. Walleye Capital LLC bought a new stake in Dingdong (Cayman) in the 4th quarter valued at approximately $2,227,000. Bank of Nova Scotia bought a new stake in Dingdong (Cayman) in the 4th quarter valued at approximately $33,000. Finally, Polymer Capital Management HK LTD bought a new stake in Dingdong (Cayman) in the 4th quarter valued at approximately $2,590,000. Institutional investors 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.