Dingdong (Cayman) (NYSE:DDL) Trading 4.8% Higher - Should You Buy?

Dingdong (Cayman) Limited (NYSE:DDL - Get Free Report) shares 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 were traded 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) Trading Up 6.9 %

The firm's 50-day moving average price is $3.90 and its 200 day moving average price is $2.82. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 47.06 and a beta of 0.37.

Hedge Funds Weigh In On Dingdong (Cayman)

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in shares of Dingdong (Cayman) in the 2nd quarter valued at about $86,000. Renaissance Technologies LLC grew its stake in Dingdong (Cayman) by 63.4% in the second quarter. Renaissance Technologies LLC now owns 690,200 shares of the company's stock valued at $1,373,000 after acquiring an additional 267,700 shares during the period. GSA Capital Partners LLP grew its stake in Dingdong (Cayman) by 81.0% in the third quarter. GSA Capital Partners LLP now owns 72,561 shares of the company's stock valued at $258,000 after acquiring an additional 32,478 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings 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 valued at $2,429,000 after acquiring an additional 662,894 shares in the last quarter. Finally, Centiva Capital LP acquired a new position in shares of Dingdong (Cayman) during the third quarter worth approximately $170,000. 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.