Wall Street Zen lowered shares of Dingdong (Cayman) (NYSE:DDL - Free Report) from a strong-buy rating to a buy rating in a research note released on Saturday morning.
Dingdong (Cayman) Price Performance
Shares of DDL stock traded up $0.20 during mid-day trading on Friday, hitting $2.15. The company had a trading volume of 1,442,998 shares, compared to its average volume of 857,253. Dingdong has a 52-week low of $1.62 and a 52-week high of $4.79. The stock's 50 day moving average price is $2.38 and its 200-day moving average price is $3.18. The company has a market capitalization of $506.71 million, a P/E ratio of 23.83 and a beta of 0.56.
Dingdong (Cayman) (NYSE:DDL - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. Dingdong (Cayman) had a net margin of 0.90% and a return on equity of 40.86%. The firm had revenue of $808.99 million for the quarter, compared to the consensus estimate of $798.85 million. On average, equities research analysts expect that Dingdong will post 0.07 earnings per share for the current year.
Dingdong (Cayman) announced that its board has initiated a share buyback plan on Thursday, March 6th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.
Institutional Investors Weigh In On Dingdong (Cayman)
Hedge funds have recently bought and sold shares of the business. Bank of Nova Scotia purchased a new stake in Dingdong (Cayman) during the fourth quarter valued at $33,000. Susquehanna Fundamental Investments LLC purchased a new stake in Dingdong (Cayman) during the fourth quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. raised its stake in 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. Two Sigma Advisers LP purchased a new stake in Dingdong (Cayman) during the fourth quarter valued at $47,000. Finally, Diametric Capital LP purchased a new stake in Dingdong (Cayman) during the fourth quarter valued at $63,000. Hedge funds and other institutional investors own 24.66% of the company's stock.
About Dingdong (Cayman)
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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.
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