Dingdong (Cayman) (NYSE:DDL) Sees Strong Trading Volume – Time to Buy?

Dingdong (Cayman) Limited (NYSE:DDL) shares saw an uptick in trading volume on Wednesday . 770,746 shares traded hands during mid-day trading, an increase of 20% from the previous session’s volume of 642,346 shares.The stock last traded at $4.13 and had previously closed at $3.92.

Dingdong (Cayman) Stock Up 8.9 %

The stock has a market capitalization of $1.01 billion, a PE ratio of 47.00 and a beta of 0.34. The stock has a fifty day moving average of $3.31 and a 200-day moving average of $2.41.

Hedge Funds Weigh In On Dingdong (Cayman)

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in Dingdong (Cayman) in the first quarter valued at approximately $54,000. Acadian Asset Management LLC purchased a new stake in shares of Dingdong (Cayman) in the 2nd quarter valued at approximately $86,000. GSA Capital Partners LLP raised its holdings in shares of Dingdong (Cayman) by 81.0% in the 3rd quarter. GSA Capital Partners LLP now owns 72,561 shares of the company’s stock valued at $258,000 after purchasing an additional 32,478 shares in the last quarter. Renaissance Technologies LLC lifted its position 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 purchasing an additional 267,700 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of 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 in the last quarter. Hedge funds and other 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.