Dingdong (Cayman) (NYSE:DDL) Shares Gap Up – Here’s What Happened

Dingdong (Cayman) Limited (NYSE:DDL)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $3.38, but opened at $3.56. Dingdong (Cayman) shares last traded at $3.47, with a volume of 361,031 shares changing hands.

Dingdong (Cayman) Trading Up 2.8 %

The stock has a market cap of $820.90 million, a P/E ratio of 38.61 and a beta of 0.45. The firm’s fifty day moving average is $3.57 and its 200 day moving average is $3.27.

Hedge Funds Weigh In On Dingdong (Cayman)

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Dingdong (Cayman) by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,459,769 shares of the company’s stock worth $17,908,000 after buying an additional 42,772 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Dingdong (Cayman) by 195.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,020,816 shares of the company’s stock worth $6,628,000 after purchasing an additional 1,336,471 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Dingdong (Cayman) by 164.8% during the 4th quarter. Marshall Wace LLP now owns 1,924,912 shares of the company’s stock worth $6,314,000 after purchasing an additional 1,198,006 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Dingdong (Cayman) by 397.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,776,675 shares of the company’s stock valued at $5,827,000 after buying an additional 1,419,190 shares during the last quarter. Finally, Polymer Capital Management HK LTD bought a new stake in shares of Dingdong (Cayman) in the fourth quarter valued at about $2,590,000. Institutional investors and hedge funds 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.