Dingdong (Cayman) (NYSE:DDL) Shares Down 3.9% – Time to Sell?

Dingdong (Cayman) Limited (NYSE:DDL)’s share price dropped 3.9% during mid-day trading on Thursday . The company traded as low as $4.20 and last traded at $4.22. Approximately 173,069 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 685,287 shares. The stock had previously closed at $4.39.

Dingdong (Cayman) Price Performance

The stock has a market capitalization of $1.04 billion, a PE ratio of 47.78 and a beta of 0.37. The business’s fifty day moving average price is $3.80 and its 200-day moving average price is $2.69.

Institutional Investors Weigh In On Dingdong (Cayman)

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position 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 worth $5,917,000 after purchasing an additional 17,900 shares during the last quarter. Quadrature Capital Ltd increased its position 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 worth $168,000 after purchasing an additional 22,302 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Dingdong (Cayman) in the third quarter worth approximately $115,000. GSA Capital Partners LLP increased its position in shares of Dingdong (Cayman) by 81.0% in the third quarter. GSA Capital Partners LLP now owns 72,561 shares of the company’s stock worth $258,000 after purchasing an additional 32,478 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Dingdong (Cayman) in the second quarter worth approximately $86,000. 24.66% of the stock is owned by hedge funds and other 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.