Dingdong (Cayman) (NYSE:DDL) Shares Gap Down – Here’s Why

Dingdong (Cayman) Limited (NYSE:DDL) gapped down before the market opened on Tuesday . The stock had previously closed at $3.27, but opened at $3.12. Dingdong (Cayman) shares last traded at $2.91, with a volume of 636,223 shares.

Dingdong (Cayman) Stock Down 11.0 %

The firm has a market cap of $687.42 million, a price-to-earnings ratio of -98.33 and a beta of 0.37. The stock has a fifty day moving average price of $2.61 and a 200-day moving average price of $2.05.

Institutional Trading of Dingdong (Cayman)

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in shares of Dingdong (Cayman) in the first quarter worth $54,000. Acadian Asset Management LLC acquired a new stake in shares of Dingdong (Cayman) in the second quarter valued at approximately $86,000. Renaissance Technologies LLC lifted its holdings in 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 purchasing an additional 267,700 shares during the period. Finally, Vanguard Group Inc. boosted its stake in 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 purchasing an additional 17,900 shares in the last quarter. 24.66% of the stock is currently owned by hedge funds and other 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.