Stock Buyback Program Authorized by Dingdong (Cayman) (NYSE:DDL) Board

Dingdong (Cayman) (NYSE:DDL) declared that its board has approved a stock buyback plan on Thursday, March 6th, RTT News reports. The company plans to repurchase $20.00 million in shares. This repurchase authorization allows the company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Dingdong (Cayman) Trading Up 12.9 %

Dingdong (Cayman) stock opened at $3.55 on Friday. The firm has a market capitalization of $837.43 million, a P/E ratio of 39.39 and a beta of 0.44. The stock has a fifty day moving average price of $3.38 and a 200 day moving average price of $3.41. Dingdong has a 52 week low of $1.08 and a 52 week high of $4.79.

Dingdong (Cayman) (NYSE:DDL) last released its earnings results on Thursday, March 6th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Dingdong (Cayman) had a return on equity of 40.86% and a net margin of 0.90%. As a group, equities analysts predict that Dingdong will post 0.07 EPS for the current year.

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.