Fangdd Network Group (NASDAQ:DUO) Stock Price Down 9.3% – Here’s What Happened

Fangdd Network Group Ltd. (NASDAQ:DUO)’s share price dropped 9.3% during mid-day trading on Tuesday . The stock traded as low as $0.59 and last traded at $0.60. Approximately 2,788,991 shares changed hands during trading, a decline of 14% from the average daily volume of 3,249,163 shares. The stock had previously closed at $0.66.

Fangdd Network Group Stock Down 9.3 %

The company has a 50 day moving average of $0.63 and a 200 day moving average of $0.79.

Institutional Trading of Fangdd Network Group

A hedge fund recently bought a new stake in Fangdd Network Group stock. Sassicaia Capital Advisers LLC purchased a new position in shares of Fangdd Network Group Ltd. (NASDAQ:DUO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 16,500 shares of the company’s stock, valued at approximately $51,000. Fangdd Network Group makes up approximately 0.1% of Sassicaia Capital Advisers LLC’s portfolio, making the stock its 17th biggest position. Sassicaia Capital Advisers LLC owned about 0.36% of Fangdd Network Group as of its most recent filing with the SEC.

About Fangdd Network Group

Fangdd Network Group Ltd., an investment holding company, provides real estate information services through online platform in the People's Republic of China. It operates Property Cloud, a software as a service solution for real estate sellers. The company also operates platforms for real estate agents, including Duoduo Sales, which offers real estate agents with instant access to marketplace functionalities and allows them to conduct transactions on the go; Duoduo Cloud Sales, which connects agents to property database and buyer base, allowing them to source, manage, and complete transactions online; and provides online and offline, and project-specific training and guidance services.