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

Dingdong (Cayman) Limited (NYSE:DDL)’s share price gapped up prior to trading on Monday . The stock had previously closed at $3.49, but opened at $3.77. Dingdong (Cayman) shares last traded at $3.74, with a volume of 285,930 shares traded.

Dingdong (Cayman) Stock Up 7.2 %

The stock has a 50-day simple moving average of $2.85 and a two-hundred day simple moving average of $2.17. The firm has a market cap of $883.49 million, a PE ratio of -125.00 and a beta of 0.37.

Institutional Investors Weigh In On Dingdong (Cayman)

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its holdings 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 purchasing an additional 267,700 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Dingdong (Cayman) during the first quarter valued at about $54,000. Acadian Asset Management LLC purchased a new position in shares of Dingdong (Cayman) in the second quarter worth about $86,000. Finally, Vanguard Group Inc. lifted its stake in shares of 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 last quarter. 24.66% of the stock is currently owned by 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.