Dingdong (Cayman) (NYSE:DDL) Shares Down 5.1%

Dingdong (Cayman) Limited (NYSE:DDL) shares fell 5.1% during trading on Monday . The stock traded as low as $2.72 and last traded at $2.78. 265,191 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 453,553 shares. The stock had previously closed at $2.93.

Dingdong (Cayman) Stock Performance

The firm has a market capitalization of $614.19 million, a P/E ratio of -90.83 and a beta of 0.29. The firm’s 50-day moving average is $2.09 and its 200 day moving average is $1.79.

Institutional Investors Weigh In On Dingdong (Cayman)

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DDL. Renaissance Technologies LLC increased its stake 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 buying an additional 267,700 shares during the last quarter. Platinum Investment Management Ltd. increased its stake in Dingdong (Cayman) by 1.8% in the 4th 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. Virtu Financial LLC acquired a new stake in Dingdong (Cayman) in the 1st quarter valued at $54,000. Acadian Asset Management LLC acquired a new stake in Dingdong (Cayman) in the 2nd quarter valued at $86,000. Finally, Vanguard Group Inc. increased 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 during the last quarter. 24.66% of the stock is currently owned by institutional investors and hedge funds.

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.