Dingdong (Cayman) (NYSE:DDL) Hits New 52-Week High – What’s Next?

Dingdong (Cayman) Limited (NYSE:DDL) shares reached a new 52-week high on Friday . The company traded as high as $4.16 and last traded at $4.12, with a volume of 553770 shares changing hands. The stock had previously closed at $3.62.

Dingdong (Cayman) Stock Performance

The firm’s fifty day moving average is $2.82 and its 200-day moving average is $2.14. The company has a market capitalization of $928.38 million, a P/E ratio of -134.33 and a beta of 0.37.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its holdings in Dingdong (Cayman) by 63.4% in 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 in the last quarter. Virtu Financial LLC bought a new stake in Dingdong (Cayman) during the 1st quarter worth approximately $54,000. Acadian Asset Management LLC bought a new stake in Dingdong (Cayman) during the 2nd quarter worth approximately $86,000. Finally, Vanguard Group Inc. increased its position in Dingdong (Cayman) by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock valued at $5,917,000 after acquiring an additional 17,900 shares during the period. 24.66% of the stock is currently owned by institutional investors and hedge funds.

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.