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

Dingdong (Cayman) Limited (NYSE:DDL) was the recipient of a large increase in short interest during 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 currently 1.1 days. Currently, 1.1% of the company’s stock are sold short.

Dingdong (Cayman) Stock Down 4.7 %

DDL traded down $0.20 during trading on Friday, hitting $4.03. 599,782 shares of the company traded hands, compared to its average volume of 699,481. Dingdong has a one year low of $1.07 and a one year high of $4.79. The stock’s fifty day moving average is $3.87 and its 200 day moving average is $2.79. The firm has a market cap of $952.00 million, a P/E ratio of 44.78 and a beta of 0.37.

Institutional Investors Weigh In On Dingdong (Cayman)

Several large investors have recently modified their holdings of DDL. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Dingdong (Cayman) by 3,090.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 684,345 shares of the company’s stock valued at $2,429,000 after purchasing an additional 662,894 shares during the period. Vanguard Group Inc. grew its stake in Dingdong (Cayman) by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock valued at $5,917,000 after buying an additional 17,900 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Dingdong (Cayman) by 63.4% during the 2nd quarter. Renaissance Technologies LLC now owns 690,200 shares of the company’s stock valued at $1,373,000 after acquiring an additional 267,700 shares during the period. GSA Capital Partners LLP lifted its position in shares of Dingdong (Cayman) by 81.0% during the third 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 in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Dingdong (Cayman) during the second quarter worth $86,000. Hedge funds and other 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.