Dingdong (Cayman) Limited (NYSE:DDL) Sees Large Increase in Short Interest

Dingdong (Cayman) Limited (NYSE:DDL) was the target of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 1,570,000 shares, an increase of 37.7% from the November 15th total of 1,140,000 shares. Based on an average daily trading volume, of 1,390,000 shares, the short-interest ratio is presently 1.1 days. Currently, 1.1% of the company’s shares are sold short.

Dingdong (Cayman) Price Performance

Shares of Dingdong (Cayman) stock traded down $0.20 during midday trading on Friday, reaching $4.03. The company had a trading volume of 599,782 shares, compared to its average volume of 699,481. Dingdong has a fifty-two week low of $1.07 and a fifty-two week high of $4.79. The stock has a fifty day moving average price of $3.87 and a 200 day moving average price of $2.79. The firm has a market cap of $952.00 million, a PE ratio of 44.78 and a beta of 0.37.

Institutional Investors Weigh In On Dingdong (Cayman)

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings 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 worth $5,917,000 after purchasing an additional 17,900 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Dingdong (Cayman) during the second quarter valued at about $86,000. Renaissance Technologies LLC increased its position in shares of Dingdong (Cayman) by 63.4% during the second quarter. Renaissance Technologies LLC now owns 690,200 shares of the company’s stock worth $1,373,000 after acquiring an additional 267,700 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of Dingdong (Cayman) by 81.0% in the 3rd quarter. GSA Capital Partners LLP now owns 72,561 shares of the company’s stock worth $258,000 after acquiring an additional 32,478 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Dingdong (Cayman) by 3,090.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 684,345 shares of the company’s stock valued at $2,429,000 after acquiring an additional 662,894 shares in the last quarter. 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.