Dingdong (Cayman) (NYSE:DDL) Trading Up 5.5% – What’s Next?

Dingdong (Cayman) Limited (NYSE:DDL) traded up 5.5% during mid-day trading on Thursday . The company traded as high as $2.19 and last traded at $2.22. 560,206 shares traded hands during trading, a decline of 19% from the average session volume of 689,072 shares. The stock had previously closed at $2.10.

Dingdong (Cayman) Stock Up 1.2 %

The firm has a market cap of $509.07 million, a price-to-earnings ratio of 23.94 and a beta of 0.55. The company has a 50 day moving average of $3.02 and a 200 day moving average of $3.47.

Dingdong (Cayman) (NYSE:DDL) last announced its earnings results on Thursday, March 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Dingdong (Cayman) had a return on equity of 40.86% and a net margin of 0.90%. The company had revenue of $808.99 million for the quarter, compared to analyst estimates of $798.85 million. As a group, equities research analysts expect that Dingdong will post 0.07 earnings per share for the current fiscal year.

Dingdong (Cayman) declared that its Board of Directors has authorized a stock buyback program on Thursday, March 6th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Dingdong (Cayman)

Institutional investors have recently modified their holdings of the stock. Centiva Capital LP acquired a new position in Dingdong (Cayman) in the third quarter worth about $170,000. State Street Corp lifted its holdings in Dingdong (Cayman) by 32.7% during the 3rd quarter. State Street Corp now owns 253,119 shares of the company’s stock worth $899,000 after buying an additional 62,338 shares during the last quarter. Jane Street Group LLC grew its position in shares of Dingdong (Cayman) by 110.8% in the 3rd quarter. Jane Street Group LLC now owns 248,189 shares of the company’s stock worth $881,000 after acquiring an additional 130,470 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Dingdong (Cayman) in the 3rd quarter valued at approximately $225,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Dingdong (Cayman) during the 3rd quarter valued at approximately $244,000. 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.