Dingdong (Cayman) (NYSE:DDL) Sees Large Volume Increase - Here's Why

Dingdong (Cayman) Limited (NYSE:DDL - Get Free Report) shares saw an uptick in trading volume on Monday . 855,114 shares were traded during trading, an increase of 56% from the previous session's volume of 547,493 shares.The stock last traded at $3.24 and had previously closed at $3.49.

Dingdong (Cayman) Price Performance

The stock has a market capitalization of $837.43 million, a P/E ratio of 39.39 and a beta of 0.44. The stock's 50-day simple moving average is $3.38 and its 200 day simple moving average is $3.41.

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. Dingdong (Cayman) had a net margin of 0.90% and a return on equity of 40.86%. As a group, analysts expect that Dingdong will post 0.07 earnings per share for the current fiscal year.

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

Institutional Trading of Dingdong (Cayman)

Several hedge funds have recently added to or reduced their stakes in DDL. Connor Clark & Lunn Investment Management Ltd. increased its position in Dingdong (Cayman) by 3,090.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 684,345 shares of the company's stock worth $2,429,000 after buying an additional 662,894 shares during the period. Jane Street Group LLC grew its stake in shares of Dingdong (Cayman) by 110.8% in the third quarter. Jane Street Group LLC now owns 248,189 shares of the company's stock valued at $881,000 after acquiring an additional 130,470 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Dingdong (Cayman) during the fourth quarter worth about $1,197,000. Inspire Investing LLC acquired a new stake in Dingdong (Cayman) in the 4th quarter worth about $674,000. Finally, State Street Corp boosted its holdings in Dingdong (Cayman) by 32.7% in the 3rd quarter. State Street Corp now owns 253,119 shares of the company's stock valued at $899,000 after purchasing an additional 62,338 shares during the period. 24.66% of the stock is owned by institutional investors and hedge funds.

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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.