Dingdong (Cayman) (NYSE:DDL) Shares Down 4.4% – Should You Sell?

Dingdong (Cayman) Limited (NYSE:DDL)’s stock price dropped 4.4% during trading on Thursday . The stock traded as low as $3.92 and last traded at $4.12. Approximately 73,289 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 661,384 shares. The stock had previously closed at $4.31.

Dingdong (Cayman) Price Performance

The company has a market capitalization of $966.18 million, a price-to-earnings ratio of 44.89 and a beta of 0.34. The stock has a 50 day simple moving average of $3.50 and a two-hundred day simple moving average of $2.52.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DDL. Vanguard Group Inc. boosted its holdings in shares of Dingdong (Cayman) by 0.4% in the first 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. Renaissance Technologies LLC raised its position in Dingdong (Cayman) by 63.4% in the 2nd quarter. Renaissance Technologies LLC now owns 690,200 shares of the company’s stock valued at $1,373,000 after purchasing an additional 267,700 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Dingdong (Cayman) by 3,090.3% during 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 period. State Street Corp increased its stake in Dingdong (Cayman) by 32.7% in the third quarter. State Street Corp now owns 253,119 shares of the company’s stock valued at $899,000 after purchasing an additional 62,338 shares during the period. Finally, Jane Street Group LLC raised its holdings 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 buying an additional 130,470 shares during the last quarter. Institutional investors and hedge funds own 24.66% of the company’s stock.

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.