Dingdong (Cayman) (NYSE:DDL) Trading Up 4.8% – Should You Buy?

Shares of Dingdong (Cayman) Limited (NYSE:DDL) rose 4.8% during mid-day trading on Tuesday . The stock traded as high as $4.16 and last traded at $4.15. Approximately 602,557 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 698,950 shares. The stock had previously closed at $3.96.

Dingdong (Cayman) Price Performance

The stock has a 50-day moving average of $3.88 and a 200-day moving average of $2.81. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 46.78 and a beta of 0.37.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. lifted its position in Dingdong (Cayman) by 3,090.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 684,345 shares of the company’s stock worth $2,429,000 after purchasing an additional 662,894 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Dingdong (Cayman) by 63.4% during the 2nd quarter. Renaissance Technologies LLC now owns 690,200 shares of the company’s stock worth $1,373,000 after acquiring an additional 267,700 shares during the period. GSA Capital Partners LLP boosted its position in shares of Dingdong (Cayman) by 81.0% during the 3rd quarter. GSA Capital Partners LLP now owns 72,561 shares of the company’s stock worth $258,000 after acquiring an additional 32,478 shares in the last quarter. Acadian Asset Management LLC bought a new position in Dingdong (Cayman) in the second quarter valued at approximately $86,000. Finally, Centiva Capital LP bought a new position in Dingdong (Cayman) in the third quarter valued at approximately $170,000. 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.