Dingdong (Cayman) (NYSE:DDL) Stock Price Up 4.1% - Time to Buy?

Dingdong (Cayman) Limited (NYSE:DDL - Get Free Report)'s share price rose 4.1% during trading on Monday . The company traded as high as $2.29 and last traded at $2.29. Approximately 739,533 shares were traded during trading, a decline of 11% from the average daily volume of 834,846 shares. The stock had previously closed at $2.20.

Dingdong (Cayman) Price Performance

The stock has a 50 day simple moving average of $2.83 and a two-hundred day simple moving average of $3.39. The company has a market cap of $605.92 million, a price-to-earnings ratio of 28.50 and a beta of 0.55.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.06 earnings per share for the quarter, beating 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%. The firm had revenue of $808.99 million for the quarter, compared to analysts' expectations of $798.85 million. As a group, research analysts forecast that Dingdong will post 0.07 EPS for the current year.

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

Hedge Funds Weigh In On Dingdong (Cayman)

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Nova Scotia acquired a new position in shares of Dingdong (Cayman) during the 4th quarter worth about $33,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Dingdong (Cayman) in the fourth quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of 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 period. Two Sigma Advisers LP purchased a new stake in shares of Dingdong (Cayman) in the fourth quarter valued at about $47,000. Finally, Diametric Capital LP purchased a new position in Dingdong (Cayman) during the fourth quarter worth about $63,000. 24.66% of the stock is currently 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.