Dingdong (Cayman) (NYSE:DDL) Stock Price Up 6.3% - Should You Buy?

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

Analyst Ratings Changes

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

Dingdong (Cayman) Price Performance

The business has a 50 day simple moving average of $2.25 and a 200 day simple moving average of $2.91. The company has a market capitalization of $485.45 million, a price-to-earnings ratio of 13.70 and a beta of 0.47.

Dingdong (Cayman) declared that its board has authorized a stock repurchase plan on Thursday, March 6th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Trading of Dingdong (Cayman)

Hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. increased its stake 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 during the period. Bank of Nova Scotia acquired a new position in shares of Dingdong (Cayman) in the fourth quarter worth $33,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Dingdong (Cayman) during the fourth quarter worth $35,000. Two Sigma Advisers LP acquired a new stake in shares of Dingdong (Cayman) in the fourth quarter valued at $47,000. Finally, Diametric Capital LP purchased a new position in Dingdong (Cayman) in the fourth quarter valued at $63,000. Institutional investors and hedge funds own 24.66% of the company's stock.

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.