Short Interest in Dingdong (Cayman) Limited (NYSE:DDL) Declines By 5.6%

Posted by Stephan Jacobs on Nov 1st, 2024

Dingdong (Cayman) Limited (NYSE:DDL – Get Free Report) saw a large drop in short interest in October. As of October 15th, there was short interest totalling 795,500 shares, a drop of 5.6% from the September 30th total of 843,000 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily volume of 952,600 shares, the short-interest ratio is currently 0.8 days.

Hedge Funds Weigh In On Dingdong (Cayman)

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its holdings in shares of Dingdong (Cayman) by 63.4% in 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. Acadian Asset Management LLC acquired a new stake in Dingdong (Cayman) during the 2nd quarter worth approximately $86,000. Virtu Financial LLC bought a new position in shares of Dingdong (Cayman) in the 1st quarter valued at $54,000. Finally, Vanguard Group Inc. boosted 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 valued at $5,917,000 after acquiring an additional 17,900 shares in the last quarter. Institutional investors own 24.66% of the company’s stock.

Dingdong (Cayman) Stock Performance

Shares of NYSE DDL traded down $0.26 during mid-day trading on Friday, reaching $3.74. 710,524 shares of the company traded hands, compared to its average volume of 595,998. The company’s fifty day moving average is $3.00 and its two-hundred day moving average is $2.23. Dingdong has a fifty-two week low of $1.07 and a fifty-two week high of $4.19.

Dingdong (Cayman) Company Profile

(Get Free Report)

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.