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

Dingdong (Cayman) Limited (NYSE:DDL)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $3.45, but opened at $3.33. Dingdong (Cayman) shares last traded at $3.43, with a volume of 112,660 shares changing hands.

Dingdong (Cayman) Price Performance

The business has a 50-day moving average of $2.55 and a 200-day moving average of $2.01.

Institutional Trading of Dingdong (Cayman)

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Dingdong (Cayman) by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock valued at $5,917,000 after purchasing an additional 17,900 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Dingdong (Cayman) in the first quarter valued at about $54,000. Acadian Asset Management LLC purchased a new stake in shares of Dingdong (Cayman) during the 2nd quarter worth approximately $86,000. Finally, Renaissance Technologies LLC grew its holdings 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 purchasing an additional 267,700 shares during the last quarter. Hedge funds and other 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.