Dingdong (Cayman) (NYSE:DDL) Trading 7.2% Higher – Should You Buy?

Dingdong (Cayman) Limited (NYSE:DDL) shares rose 7.2% during trading on Friday . The company traded as high as $3.85 and last traded at $3.78. Approximately 435,063 shares changed hands during trading, a decline of 16% from the average daily volume of 516,771 shares. The stock had previously closed at $3.52.

Dingdong (Cayman) Trading Up 6.7 %

The business’s fifty day simple moving average is $3.50 and its 200 day simple moving average is $3.31. The stock has a market cap of $887.04 million, a price-to-earnings ratio of 41.72 and a beta of 0.45.

Hedge Funds Weigh In On Dingdong (Cayman)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its holdings in Dingdong (Cayman) by 397.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,776,675 shares of the company’s stock worth $5,827,000 after purchasing an additional 1,419,190 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted 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 acquiring an additional 1,336,471 shares in the last quarter. Marshall Wace LLP grew its stake in Dingdong (Cayman) by 164.8% in the fourth quarter. Marshall Wace LLP now owns 1,924,912 shares of the company’s stock valued at $6,314,000 after acquiring an additional 1,198,006 shares during the period. Polymer Capital Management HK LTD bought a new stake in shares of Dingdong (Cayman) in the fourth quarter worth about $2,590,000. Finally, Walleye Capital LLC acquired a new stake in shares of Dingdong (Cayman) during the fourth quarter worth about $2,227,000. Institutional investors 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.