Dingdong (Cayman) (NYSE:DDL) Stock Price Down 4.3% - Here's What Happened

Shares of Dingdong (Cayman) Limited (NYSE:DDL - Get Free Report) dropped 4.3% during mid-day trading on Friday . The company traded as low as $4.04 and last traded at $4.05. Approximately 161,184 shares changed hands during trading, a decline of 77% from the average daily volume of 697,458 shares. The stock had previously closed at $4.23.

Dingdong (Cayman) Stock Performance

The stock has a market cap of $952.00 million, a PE ratio of 44.78 and a beta of 0.37. The firm has a fifty day moving average price of $3.87 and a 200 day moving average price of $2.79.

Institutional Investors Weigh In On Dingdong (Cayman)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Dingdong (Cayman) by 3,090.3% during the third 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. Vanguard Group Inc. raised its stake in Dingdong (Cayman) by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company's stock worth $5,917,000 after acquiring an additional 17,900 shares during the last quarter. Renaissance Technologies LLC lifted its position in 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 acquiring an additional 267,700 shares during the period. GSA Capital Partners LLP grew its stake in Dingdong (Cayman) by 81.0% during the 3rd quarter. GSA Capital Partners LLP now owns 72,561 shares of the company's stock valued at $258,000 after purchasing an additional 32,478 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Dingdong (Cayman) in the second quarter valued at about $86,000. 24.66% of the stock is currently owned by hedge funds and other 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.