Dingdong (Cayman) (NYSE:DDL) Shares Down 5% – Time to Sell?

Shares of Dingdong (Cayman) Limited (NYSE:DDL) were down 5% on Wednesday . The company traded as low as $3.79 and last traded at $3.80. Approximately 166,108 shares were traded during trading, a decline of 72% from the average daily volume of 589,637 shares. The stock had previously closed at $4.00.

Dingdong (Cayman) Stock Down 0.5 %

The firm has a fifty day simple moving average of $3.00 and a 200-day simple moving average of $2.23.

Institutional Trading of Dingdong (Cayman)

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in shares of Dingdong (Cayman) in the first quarter valued at $54,000. Acadian Asset Management LLC purchased a new position in Dingdong (Cayman) in the second quarter worth $86,000. Renaissance Technologies LLC grew its position in Dingdong (Cayman) by 63.4% during the second quarter. Renaissance Technologies LLC now owns 690,200 shares of the company’s stock valued at $1,373,000 after buying an additional 267,700 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 17,900 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.