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

Dingdong (Cayman) Limited (NYSE:DDL) shares gapped down prior to trading on Wednesday . The stock had previously closed at $3.53, but opened at $3.35. Dingdong (Cayman) shares last traded at $3.42, with a volume of 200,292 shares trading hands.

Dingdong (Cayman) Stock Performance

The company has a market cap of $820.90 million, a PE ratio of 38.83 and a beta of 0.45. The firm has a fifty day simple moving average of $3.53 and a 200 day simple moving average of $3.31.

Hedge Funds Weigh In On Dingdong (Cayman)

A number of large investors have recently bought and sold shares of the stock. Bank of Nova Scotia acquired a new stake in shares of Dingdong (Cayman) during the 4th quarter worth $33,000. Susquehanna Fundamental Investments LLC acquired a new stake in Dingdong (Cayman) during the fourth quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Dingdong (Cayman) by 319.2% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,866 shares of the company’s stock worth $42,000 after purchasing an additional 9,797 shares during the period. Two Sigma Advisers LP acquired a new position in shares of Dingdong (Cayman) in the 4th quarter valued at about $47,000. Finally, Diametric Capital LP purchased a new stake in shares of Dingdong (Cayman) during the 4th quarter worth about $63,000. Hedge funds and other 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.