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) Price Performance

The stock has a 50-day moving average of $3.58 and a 200 day moving average of $3.25. The stock has a market capitalization of $820.90 million, a price-to-earnings ratio of 38.61 and a beta of 0.45.

Institutional Trading of Dingdong (Cayman)

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