Short Interest in Dingdong (Cayman) Limited (NYSE:DDL) Declines By 5.6%

Posted by Jared Coughlin on Nov 1st, 2024

Dingdong (Cayman) Limited (NYSE:DDL – Get Free Report) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 795,500 shares, a decline of 5.6% from the September 30th total of 843,000 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 952,600 shares, the short-interest ratio is presently 0.8 days.

Hedge Funds Weigh In On Dingdong (Cayman)

Several hedge funds and other institutional investors have recently bought and sold shares of DDL. Vanguard Group Inc. increased its stake in Dingdong (Cayman) by 0.4% in the first quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock valued at $5,917,000 after purchasing an additional 17,900 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of 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 buying an additional 267,700 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Dingdong (Cayman) in the second quarter worth about $86,000. Finally, Virtu Financial LLC purchased a new stake in Dingdong (Cayman) during the 1st quarter worth approximately $54,000. 24.66% of the stock is owned by institutional investors and hedge funds.

Dingdong (Cayman) Stock Down 6.5 %

Shares of Dingdong (Cayman) stock traded down $0.26 during trading on Friday, reaching $3.74. The company’s stock had a trading volume of 710,524 shares, compared to its average volume of 595,998. Dingdong has a 12-month low of $1.07 and a 12-month high of $4.19. The business has a 50 day moving average price of $3.00 and a 200-day moving average price of $2.23.

Dingdong (Cayman) Company Profile

(Get Free Report)

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.