Dingdong (Cayman) (NYSE:DDL) Stock Price Down 4.4% – Here’s Why

Shares of Dingdong (Cayman) Limited (NYSE:DDL) dropped 4.4% during trading on Wednesday . The stock traded as low as $3.26 and last traded at $3.28. Approximately 453,694 shares were traded during trading, a decline of 23% from the average daily volume of 588,710 shares. The stock had previously closed at $3.43.

Dingdong (Cayman) Stock Down 4.8 %

The stock has a 50 day moving average of $3.85 and a 200 day moving average of $3.10. The firm has a market capitalization of $796.09 million, a price-to-earnings ratio of 36.28 and a beta of 0.44.

Dingdong (Cayman) (NYSE:DDL) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $931.69 million during the quarter, compared to the consensus estimate of $756.72 million. Dingdong (Cayman) had a net margin of 0.90% and a return on equity of 40.86%. Analysts predict that Dingdong will post 0.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new position in shares of Dingdong (Cayman) in the third quarter valued at approximately $115,000. Quadrature Capital Ltd boosted its holdings in shares of Dingdong (Cayman) by 87.9% during the third quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock worth $168,000 after purchasing an additional 22,302 shares during the period. Centiva Capital LP acquired a new position in Dingdong (Cayman) in the third quarter worth approximately $170,000. XTX Topco Ltd bought a new stake in Dingdong (Cayman) in the third quarter worth $225,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Dingdong (Cayman) in the 3rd quarter worth approximately $244,000. 24.66% of the stock is owned by institutional investors and hedge funds.

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.