Dingdong (Cayman) (NYSE:DDL) Shares Gap Down – Should You Sell?

Dingdong (Cayman) Limited (NYSE:DDL) 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.

Dingdong (Cayman) Stock Performance

The firm has a market cap of $875.23 million, a P/E ratio of 41.17 and a beta of 0.45. The firm has a fifty day moving average of $3.50 and a 200-day moving average of $3.31.

Institutional Trading of Dingdong (Cayman)

Hedge funds have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Dingdong (Cayman) by 3,090.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 684,345 shares of the company’s stock worth $2,429,000 after purchasing an additional 662,894 shares during the last quarter. Jane Street Group LLC increased its position in Dingdong (Cayman) by 110.8% in the 3rd quarter. Jane Street Group LLC now owns 248,189 shares of the company’s stock valued at $881,000 after acquiring an additional 130,470 shares during the period. Inspire Investing LLC acquired a new stake in Dingdong (Cayman) in the 4th quarter valued at approximately $674,000. State Street Corp increased its position in Dingdong (Cayman) by 32.7% in the 3rd quarter. State Street Corp now owns 253,119 shares of the company’s stock valued at $899,000 after acquiring an additional 62,338 shares during the period. Finally, GSA Capital Partners LLP increased its position in Dingdong (Cayman) by 81.0% in the 3rd quarter. GSA Capital Partners LLP now owns 72,561 shares of the company’s stock valued at $258,000 after acquiring an additional 32,478 shares during the period. Institutional investors own 24.66% of the company’s stock.

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.