Short Interest in Dingdong (Cayman) Limited (NYSE:DDL) Declines By 12.9%

Dingdong (Cayman) Limited (NYSE:DDL - Get Free Report) was the target of a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 1,420,000 shares, a decline of 12.9% from the January 31st total of 1,630,000 shares. Based on an average daily volume of 768,600 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.0% of the company's shares are short sold.

Dingdong (Cayman) Stock Down 8.5 %

Shares of NYSE:DDL traded down $0.29 during midday trading on Monday, reaching $3.06. The company's stock had a trading volume of 864,475 shares, compared to its average volume of 660,407. Dingdong has a 12-month low of $1.08 and a 12-month high of $4.79. The firm has a 50 day moving average of $3.37 and a 200-day moving average of $3.44. The firm has a market capitalization of $723.80 million, a P/E ratio of 34.04 and a beta of 0.44.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $798.85 million. On average, research analysts predict that Dingdong will post 0.07 EPS for the current year.

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Dingdong (Cayman) announced that its board has approved 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 purchase 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 Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of Nova Scotia purchased a new position in shares of Dingdong (Cayman) in the fourth quarter valued at $33,000. Susquehanna Fundamental Investments LLC purchased a new position in Dingdong (Cayman) in the 4th quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. raised its stake 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 acquiring an additional 9,797 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Dingdong (Cayman) in the 4th quarter worth $47,000. Finally, Diametric Capital LP bought a new position in Dingdong (Cayman) during the 4th quarter worth about $63,000. 24.66% of the stock is owned by hedge funds and other institutional investors.

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.