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

Dingdong (Cayman) Limited (NYSE:DDL)’s share price gapped up prior to trading 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 traded.

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

Hedge Funds Weigh In On Dingdong (Cayman)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its holdings in shares of Dingdong (Cayman) by 78.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 122,661 shares of the company’s stock valued at $402,000 after buying an additional 53,885 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Dingdong (Cayman) during the 4th quarter worth about $1,958,000. Squarepoint Ops LLC bought a new stake in shares of Dingdong (Cayman) in the fourth quarter valued at about $245,000. Two Sigma Advisers LP bought a new position in shares of Dingdong (Cayman) during the fourth quarter worth about $47,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Dingdong (Cayman) in the fourth quarter valued at approximately $110,000. Institutional investors own 24.66% of the company’s stock.

Dingdong (Cayman) Stock Performance

The company has a market cap of $813.33 million, a price-to-earnings ratio of 38.28 and a beta of 0.45. The firm has a fifty day moving average price of $3.39 and a 200 day moving average price of $3.41.

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.