Dingdong (Cayman) (NYSE:DDL) Sees Strong Trading Volume – Here’s What Happened

Posted by Teresa Graham on Nov 15th, 2024

Dingdong (Cayman) Limited (NYSE:DDL – Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 770,746 shares changed 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) Trading Down 3.1 %

The stock has a market capitalization of $973.27 million, a P/E ratio of 45.78 and a beta of 0.34. The company’s fifty day simple moving average is $3.38 and its 200 day simple moving average is $2.43.

Hedge Funds Weigh In On Dingdong (Cayman)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in shares of Dingdong (Cayman) during the first quarter worth about $54,000. Acadian Asset Management LLC purchased a new position in Dingdong (Cayman) in the 2nd quarter worth approximately $86,000. GSA Capital Partners LLP increased 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 worth $258,000 after buying an additional 32,478 shares during the last quarter. Renaissance Technologies LLC raised 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 valued at $1,373,000 after buying an additional 267,700 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Dingdong (Cayman) by 3,090.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 684,345 shares of the company’s stock worth $2,429,000 after acquiring an additional 662,894 shares during the last quarter. 24.66% of the stock is currently owned by hedge funds and other institutional investors.

About Dingdong (Cayman)

(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.