Dingdong (Cayman) (NYSE:DDL) Stock Price Down 4% – Time to Sell?

Dingdong (Cayman) Limited (NYSE:DDL) shares fell 4% on Monday . The stock traded as low as $3.50 and last traded at $3.62. 512,745 shares changed hands during trading, a decline of 5% from the average session volume of 539,206 shares. The stock had previously closed at $3.77.

Dingdong (Cayman) Price Performance

The stock has a market capitalization of $814.99 million, a price-to-earnings ratio of -115.00 and a beta of 0.37. The stock’s 50 day simple moving average is $2.48 and its 200-day simple moving average is $1.99.

Hedge Funds Weigh In On Dingdong (Cayman)

A number of institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new stake in Dingdong (Cayman) in the 2nd quarter valued at approximately $86,000. Virtu Financial LLC acquired a new stake in shares of Dingdong (Cayman) during the 1st quarter valued at about $54,000. Renaissance Technologies LLC increased its stake in Dingdong (Cayman) by 63.4% in the second quarter. Renaissance Technologies LLC now owns 690,200 shares of the company’s stock valued at $1,373,000 after acquiring an additional 267,700 shares during the period. Finally, Vanguard Group Inc. raised its position in Dingdong (Cayman) by 0.4% in the first quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock worth $5,917,000 after purchasing an additional 17,900 shares in the last quarter. 24.66% of the stock is currently owned by 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.