Dingdong (Cayman) (NYSE:DDL) Shares Gap Up After Better-Than-Expected Earnings

Dingdong (Cayman) Limited (NYSE:DDL)’s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $3.14, but opened at $3.30. Dingdong (Cayman) shares last traded at $3.42, with a volume of 574,767 shares.

The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Dingdong (Cayman) had a return on equity of 40.86% and a net margin of 0.90%.

Dingdong (Cayman) announced that its Board of Directors has approved a share repurchase program on Thursday, March 6th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the company to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Bank of Nova Scotia purchased a new position in shares of Dingdong (Cayman) during the fourth quarter valued at about $33,000. Susquehanna Fundamental Investments LLC bought a new stake in Dingdong (Cayman) during the 4th quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Dingdong (Cayman) by 319.2% during 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 position in shares of Dingdong (Cayman) during the 4th quarter worth approximately $47,000. Finally, Diametric Capital LP bought a new position in shares of Dingdong (Cayman) in the 4th quarter worth approximately $63,000. 24.66% of the stock is currently owned by institutional investors.

Dingdong (Cayman) Trading Up 12.9 %

The company has a market cap of $837.43 million, a PE ratio of 39.39 and a beta of 0.44. The stock has a 50 day moving average price of $3.38 and a 200 day moving average price of $3.41.

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.