Dingdong (Cayman) (NYSE:DDL) Stock Price Up 6.2% – Should You Buy?

Shares of Dingdong (Cayman) Limited (NYSE:DDL) shot up 6.2% during trading on Tuesday . The stock traded as high as $3.95 and last traded at $3.94. 626,505 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 672,508 shares. The stock had previously closed at $3.71.

Dingdong (Cayman) Stock Up 5.9 %

The firm has a 50 day moving average of $3.57 and a 200-day moving average of $2.57. The company has a market cap of $928.38 million, a P/E ratio of 41.22 and a beta of 0.34.

Institutional Trading of Dingdong (Cayman)

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Dingdong (Cayman) by 0.4% during the first quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock worth $5,917,000 after acquiring an additional 17,900 shares during the last quarter. Quadrature Capital Ltd grew its position in Dingdong (Cayman) by 87.9% during the 3rd quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock worth $168,000 after purchasing an additional 22,302 shares during the last quarter. Virtu Financial LLC purchased a new stake in Dingdong (Cayman) during the 3rd quarter worth approximately $115,000. GSA Capital Partners LLP increased its stake in Dingdong (Cayman) by 81.0% during 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. Finally, Acadian Asset Management LLC purchased a new position in shares of Dingdong (Cayman) in the second quarter worth $86,000. 24.66% of the stock is owned by hedge funds and other institutional investors.

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.