Dingdong (Cayman) (NYSE:DDL) Shares Gap Down to $2.97

Dingdong (Cayman) Limited (NYSE:DDL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $2.97, but opened at $2.85. Dingdong (Cayman) shares last traded at $2.76, with a volume of 115,382 shares.

Dingdong (Cayman) Stock Down 6.7 %

The business has a fifty day simple moving average of $2.16 and a two-hundred day simple moving average of $1.83. The company has a market capitalization of $654.36 million, a price-to-earnings ratio of -91.33 and a beta of 0.29.

Hedge Funds Weigh In On Dingdong (Cayman)

Several institutional investors have recently added to or reduced their stakes in DDL. Virtu Financial LLC bought a new stake in Dingdong (Cayman) during the first quarter worth about $54,000. Acadian Asset Management LLC acquired a new stake in Dingdong (Cayman) during the 2nd quarter valued at $86,000. Renaissance Technologies LLC raised its position in Dingdong (Cayman) by 63.4% in the 2nd quarter. Renaissance Technologies LLC now owns 690,200 shares of the company’s stock valued at $1,373,000 after purchasing an additional 267,700 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Dingdong (Cayman) by 0.4% in the first 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 during the last quarter. Finally, Platinum Investment Management Ltd. raised its holdings in shares of Dingdong (Cayman) by 1.8% in the fourth quarter. Platinum Investment Management Ltd. now owns 9,308,945 shares of the company’s stock valued at $13,963,000 after buying an additional 166,736 shares during the last quarter. 24.66% of the stock is owned by institutional investors.

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.