Dingdong (Cayman) (NYSE:DDL) Shares Down 4.3% – Time to Sell?

Dingdong (Cayman) Limited (NYSE:DDL)’s stock price fell 4.3% during mid-day trading on Friday . The stock traded as low as $4.04 and last traded at $4.05. 161,184 shares traded hands during trading, a decline of 77% from the average session volume of 697,458 shares. The stock had previously closed at $4.23.

Dingdong (Cayman) Stock Down 5.0 %

The company has a fifty day simple moving average of $3.87 and a 200-day simple moving average of $2.77. The firm has a market cap of $949.64 million, a P/E ratio of 46.89 and a beta of 0.37.

Hedge Funds Weigh In On Dingdong (Cayman)

Large investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in shares of Dingdong (Cayman) in the third quarter valued at about $115,000. Acadian Asset Management LLC purchased a new stake in shares of Dingdong (Cayman) in the second quarter worth about $86,000. Quadrature Capital Ltd boosted its stake in Dingdong (Cayman) by 87.9% during the third quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock valued at $168,000 after buying an additional 22,302 shares during the last quarter. Centiva Capital LP purchased a new position in Dingdong (Cayman) during the 3rd quarter valued at approximately $170,000. Finally, XTX Topco Ltd purchased a new position in Dingdong (Cayman) during the 3rd quarter valued at approximately $225,000. 24.66% of the stock is currently 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.