Dingdong (Cayman) (NYSE:DDL) Trading Up 10.5% - What's Next?

Shares of Dingdong (Cayman) Limited (NYSE:DDL - Get Free Report) were up 10.5% during mid-day trading on Thursday . The stock traded as high as $2.10 and last traded at $2.16. Approximately 492,516 shares changed hands during trading, a decline of 42% from the average daily volume of 852,089 shares. The stock had previously closed at $1.95.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Dingdong (Cayman) from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 24th.

Dingdong (Cayman) Stock Performance

The stock has a 50-day moving average of $2.36 and a 200 day moving average of $3.15. The firm has a market capitalization of $493.72 million, a P/E ratio of 23.22 and a beta of 0.56.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last announced 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. The company had revenue of $808.99 million for the quarter, compared to analysts' expectations of $798.85 million. Dingdong (Cayman) had a return on equity of 40.86% and a net margin of 0.90%. On average, equities analysts predict that Dingdong will post 0.07 EPS for the current year.

Dingdong (Cayman) declared that its Board of Directors has initiated a share buyback program on Thursday, March 6th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued.

Institutional Trading of Dingdong (Cayman)

Several hedge funds have recently modified their holdings of DDL. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Dingdong (Cayman) by 319.2% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,866 shares of the company's stock worth $42,000 after buying an additional 9,797 shares in the last quarter. Bank of Nova Scotia bought a new stake in shares of Dingdong (Cayman) during the fourth quarter worth $33,000. Susquehanna Fundamental Investments LLC bought a new position in Dingdong (Cayman) in the fourth quarter valued at about $35,000. Two Sigma Advisers LP bought a new stake in Dingdong (Cayman) during the 4th quarter worth about $47,000. Finally, Diametric Capital LP acquired a new position in Dingdong (Cayman) during the 4th quarter valued at about $63,000. 24.66% of the stock is owned by institutional investors.

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.