Dingdong (Cayman) (NYSE:DDL) Stock Price Down 4.3% – Here’s What Happened

Dingdong (Cayman) Limited (NYSE:DDL)’s share price dropped 4.3% during mid-day trading on Thursday . The stock traded as low as $3.12 and last traded at $3.14. Approximately 373,191 shares were traded during trading, a decline of 47% from the average daily volume of 703,063 shares. The stock had previously closed at $3.28.

Dingdong (Cayman) Stock Up 10.2 %

The firm has a market cap of $843.33 million, a price-to-earnings ratio of 39.67 and a beta of 0.37. The firm has a 50 day moving average of $4.02 and a 200 day moving average of $2.97.

Hedge Funds Weigh In On Dingdong (Cayman)

Several large investors have recently added to or reduced their stakes in DDL. Acadian Asset Management LLC bought a new position in shares of Dingdong (Cayman) during the 2nd quarter worth approximately $86,000. Virtu Financial LLC purchased a new position in shares of Dingdong (Cayman) in the 3rd quarter worth about $115,000. Quadrature Capital Ltd grew its position in Dingdong (Cayman) by 87.9% during 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 period. Centiva Capital LP purchased a new stake in Dingdong (Cayman) during the third quarter worth about $170,000. Finally, XTX Topco Ltd bought a new stake in Dingdong (Cayman) in the third quarter worth about $225,000. Institutional investors own 24.66% of the company’s stock.

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.