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

Dingdong (Cayman) Limited (NYSE:DDL) shares gapped down prior to trading on Wednesday . The stock had previously closed at $3.53, but opened at $3.35. Dingdong (Cayman) shares last traded at $3.42, with a volume of 200,292 shares changing hands.

Dingdong (Cayman) Trading Up 5.3 %

The stock has a market capitalization of $875.23 million, a price-to-earnings ratio of 41.17 and a beta of 0.45. The firm has a 50-day moving average of $3.50 and a 200 day moving average of $3.31.

Hedge Funds Weigh In On Dingdong (Cayman)

Hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of 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 valued at $2,429,000 after purchasing an additional 662,894 shares during the period. Jane Street Group LLC increased its position in shares of Dingdong (Cayman) by 110.8% during the 3rd quarter. Jane Street Group LLC now owns 248,189 shares of the company’s stock valued at $881,000 after purchasing an additional 130,470 shares during the period. Inspire Investing LLC acquired a new position in shares of Dingdong (Cayman) during the 4th quarter valued at $674,000. State Street Corp increased its position in shares of Dingdong (Cayman) by 32.7% during the 3rd 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, GSA Capital Partners LLP increased its position in shares of 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 period. 24.66% of the stock is currently owned by institutional investors and hedge funds.

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.