Dingdong (Cayman) (NYSE:DDL) Shares Gap Down – Here’s Why

Shares of Dingdong (Cayman) Limited (NYSE:DDL) gapped down before the market opened on Tuesday . The stock had previously closed at $3.59, but opened at $3.50. Dingdong (Cayman) shares last traded at $3.48, with a volume of 327,307 shares trading hands.

Dingdong (Cayman) Price Performance

The firm has a fifty day simple moving average of $4.02 and a 200 day simple moving average of $2.93. The company has a market cap of $807.90 million, a price-to-earnings ratio of 38.00 and a beta of 0.37.

Institutional Investors Weigh In On Dingdong (Cayman)

A number of hedge funds have recently bought and sold shares of DDL. Renaissance Technologies LLC lifted its position in shares of Dingdong (Cayman) by 63.4% during the 2nd quarter. Renaissance Technologies LLC now owns 690,200 shares of the company’s stock worth $1,373,000 after purchasing an additional 267,700 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in 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 buying an additional 662,894 shares during the period. State Street Corp lifted its holdings in shares of Dingdong (Cayman) by 32.7% during the third quarter. State Street Corp now owns 253,119 shares of the company’s stock worth $899,000 after buying an additional 62,338 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Dingdong (Cayman) by 110.8% in the third 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. Finally, GSA Capital Partners LLP grew its stake in shares of Dingdong (Cayman) by 81.0% in the third quarter. GSA Capital Partners LLP now owns 72,561 shares of the company’s stock worth $258,000 after acquiring an additional 32,478 shares during the last quarter. 24.66% of the stock is currently owned by institutional investors.

Dingdong (Cayman) Company Profile

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.