Dingdong (Cayman) (NYSE:DDL) Sees Strong Trading Volume – Still a Buy?

Dingdong (Cayman) Limited (NYSE:DDL) shares saw unusually-high trading volume on Monday . Approximately 515,115 shares were traded during mid-day trading, a decline of 14% from the previous session’s volume of 596,482 shares.The stock last traded at $3.75 and had previously closed at $3.72.

Dingdong (Cayman) Stock Up 0.5 %

The firm’s 50 day moving average is $3.03 and its two-hundred day moving average is $2.27.

Institutional Trading of Dingdong (Cayman)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in Dingdong (Cayman) in the 1st quarter valued at about $54,000. Acadian Asset Management LLC purchased a new stake in shares of Dingdong (Cayman) during the 2nd quarter worth about $86,000. 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 worth $1,373,000 after purchasing an additional 267,700 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Dingdong (Cayman) by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock worth $5,917,000 after purchasing an additional 17,900 shares during the period. Hedge funds and other institutional investors own 24.66% of the company’s stock.

Dingdong (Cayman) Company Profile

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.