Dingdong (Cayman) (NYSE:DDL) Stock Price Up 8% – What’s Next?

Dingdong (Cayman) Limited (NYSE:DDL) traded up 8% during trading on Friday . The stock traded as high as $3.51 and last traded at $3.50. 427,068 shares changed hands 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 market cap of $843.33 million, a PE ratio of 39.67 and a beta of 0.37. The stock has a 50-day simple moving average of $4.02 and a two-hundred day simple moving average of $2.98.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DDL. Acadian Asset Management LLC purchased a new stake in shares of Dingdong (Cayman) during the 2nd quarter valued at about $86,000. Virtu Financial LLC bought a new stake in Dingdong (Cayman) during the third quarter valued at about $115,000. Quadrature Capital Ltd increased its position in Dingdong (Cayman) by 87.9% in the third quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock worth $168,000 after buying an additional 22,302 shares in the last quarter. Centiva Capital LP purchased a new stake in Dingdong (Cayman) in the third quarter worth about $170,000. Finally, XTX Topco Ltd bought a new position in shares of Dingdong (Cayman) in the third quarter worth about $225,000. 24.66% of the stock is owned by hedge funds and other institutional investors.

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.