Dingdong (Cayman) (NYSE:DDL) Shares Gap Down – Should You Sell?

Dingdong (Cayman) Limited (NYSE:DDL) shares gapped down before the market opened on Tuesday . The stock had previously closed at $3.59, but opened at $3.50. Dingdong (Cayman) shares last traded at $3.48, with a volume of 327,307 shares.

Dingdong (Cayman) Stock Performance

The company has a market capitalization of $807.90 million, a P/E ratio of 38.00 and a beta of 0.37. The firm has a 50 day moving average price of $4.02 and a two-hundred day moving average price of $2.93.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new position in shares of Dingdong (Cayman) in the 2nd quarter worth approximately $86,000. Virtu Financial LLC bought a new stake in shares of Dingdong (Cayman) during the third quarter worth $115,000. Quadrature Capital Ltd raised its holdings in shares of Dingdong (Cayman) by 87.9% in the third quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock valued at $168,000 after buying an additional 22,302 shares during the last quarter. Centiva Capital LP acquired a new position in Dingdong (Cayman) during the 3rd quarter worth about $170,000. Finally, XTX Topco Ltd acquired a new stake in Dingdong (Cayman) in the 3rd quarter valued at about $225,000. 24.66% of the stock is owned by institutional investors.

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.