Dingdong (Cayman) (NYSE:DDL) Stock Price Down 3.3% – Time to Sell?

Shares of Dingdong (Cayman) Limited (NYSE:DDL) fell 3.3% during trading on Tuesday . The company traded as low as $2.24 and last traded at $2.23. 138,397 shares were traded during mid-day trading, a decline of 84% from the average session volume of 850,885 shares. The stock had previously closed at $2.30.

Dingdong (Cayman) Price Performance

The firm has a market cap of $523.25 million, a P/E ratio of 24.61 and a beta of 0.56. The company’s 50-day moving average is $2.53 and its two-hundred day moving average is $3.28.

Dingdong (Cayman) (NYSE:DDL) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.06 earnings per share (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%. The business had revenue of $808.99 million for the quarter, compared to analyst estimates of $798.85 million. On average, analysts expect that Dingdong will post 0.07 EPS for the current fiscal year.

Dingdong (Cayman) announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 6th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Bank of Nova Scotia bought a new stake in shares of Dingdong (Cayman) during the 4th quarter valued at approximately $33,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Dingdong (Cayman) during the fourth quarter worth $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 valued at $42,000 after acquiring an additional 9,797 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of Dingdong (Cayman) in the 4th quarter valued at $47,000. Finally, Diametric Capital LP bought a new stake in Dingdong (Cayman) during the 4th quarter worth $63,000. Institutional investors and hedge funds own 24.66% of the company’s stock.

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.