Dingdong (Cayman) (NYSE:DDL) Stock Price Down 5.4% – What’s Next?

Dingdong (Cayman) Limited (NYSE:DDL)’s share price traded down 5.4% during mid-day trading on Thursday . The stock traded as low as $2.89 and last traded at $2.90. 423,693 shares traded hands during trading, a decline of 44% from the average session volume of 762,680 shares. The stock had previously closed at $3.06.

Dingdong (Cayman) Stock Performance

The stock has a market cap of $669.71 million, a P/E ratio of 31.50 and a beta of 0.44. The business has a 50 day simple moving average of $3.33 and a 200-day simple moving average of $3.49.

Dingdong (Cayman) (NYSE:DDL) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping 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 business had revenue of $808.99 million for the quarter, compared to analysts’ expectations of $798.85 million. On average, sell-side analysts predict that Dingdong will post 0.07 earnings per share for the current fiscal year.

Dingdong (Cayman) declared that its board has initiated a stock repurchase program on Thursday, March 6th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.7% of its stock through open market purchases. Stock 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 and hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Dingdong (Cayman) by 319.2% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,866 shares of the company’s stock valued at $42,000 after purchasing an additional 9,797 shares in the last quarter. Bank of Nova Scotia bought a new position in shares of Dingdong (Cayman) during the fourth quarter valued at $33,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Dingdong (Cayman) during the fourth quarter valued at $35,000. Two Sigma Advisers LP bought a new position in shares of Dingdong (Cayman) during the fourth quarter valued at $47,000. Finally, Diametric Capital LP bought a new position in shares of Dingdong (Cayman) during the fourth quarter valued at $63,000. Hedge funds and other institutional investors 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.