Dingdong (Cayman) (NYSE:DDL) Stock Price Up 6.3% – What’s Next?

Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) shares were up 6.3% on Monday . The stock traded as high as $2.11 and last traded at $2.13. Approximately 182,601 shares were traded during trading, a decline of 79% from the average daily volume of 866,705 shares. The stock had previously closed at $2.00.

Wall Street Analyst Weigh In

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

Dingdong (Cayman) Stock Up 1.6%

The stock has a market capitalization of $511.44 million, a P/E ratio of 14.43 and a beta of 0.47. The business has a fifty day moving average price of $2.25 and a 200-day moving average price of $2.91.

Dingdong (Cayman) declared that its board has initiated a stock buyback plan on Thursday, March 6th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Dingdong (Cayman)

A number of institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Dingdong (Cayman) by 319.2% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,866 shares of the company’s stock worth $42,000 after purchasing an additional 9,797 shares during the last quarter. Bank of Nova Scotia bought a new position in shares of Dingdong (Cayman) during the 4th quarter valued at $33,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Dingdong (Cayman) in the 4th quarter worth $35,000. Two Sigma Advisers LP bought a new stake in shares of Dingdong (Cayman) in the fourth quarter worth $47,000. Finally, Diametric Capital LP bought a new stake in shares of Dingdong (Cayman) in the fourth quarter worth $63,000. Hedge funds and other 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.