Dingdong (Cayman) (NYSE:DDL) Shares Up 6.3% - What's Next?

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL - Get Free Report) shares shot up 6.3% during trading on Monday . The company traded as high as $2.11 and last traded at $2.13. 182,601 shares changed hands during trading, a decline of 79% from the average session volume of 866,705 shares. The stock had previously closed at $2.00.

Analyst Upgrades and Downgrades

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

Dingdong (Cayman) Trading Up 7.3%

The business's 50 day simple moving average is $2.25 and its two-hundred day simple moving average is $2.92. The firm has a market capitalization of $506.71 million, a P/E ratio of 14.30 and a beta of 0.47.

Dingdong (Cayman) declared that its board has approved a share buyback program on Thursday, March 6th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On Dingdong (Cayman)

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