Dingdong (Cayman) Limited (NYSE:DDL) Short Interest Update

Dingdong (Cayman) Limited (NYSE:DDL) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,230,000 shares, a growth of 54.6% from the October 15th total of 795,500 shares. Based on an average trading volume of 1,220,000 shares, the short-interest ratio is presently 1.0 days. Approximately 0.9% of the shares of the stock are sold short.

Hedge Funds Weigh In On Dingdong (Cayman)

A number of institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in Dingdong (Cayman) during the 2nd quarter worth $86,000. Virtu Financial LLC purchased a new position in Dingdong (Cayman) in the first quarter worth approximately $54,000. GSA Capital Partners LLP lifted 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 valued at $258,000 after purchasing an additional 32,478 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake 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 buying an additional 662,894 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Dingdong (Cayman) by 63.4% in the 2nd 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 during the period. 24.66% of the stock is currently owned by hedge funds and other institutional investors.

Dingdong (Cayman) Stock Performance

DDL stock traded down $0.13 during midday trading on Thursday, reaching $4.12. 1,346,756 shares of the company’s stock traded hands, compared to its average volume of 653,688. The firm has a market capitalization of $973.27 million, a PE ratio of 47.22 and a beta of 0.34. The company has a 50-day moving average price of $3.35 and a two-hundred day moving average price of $2.42. Dingdong has a 52 week low of $1.07 and a 52 week high of $4.60.

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.