Dingdong (Cayman) (NYSE:DDL) Shares Gap Up Following Strong Earnings

Dingdong (Cayman) Limited (NYSE:DDL) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. 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 trading hands.

The company reported $0.06 earnings per share (EPS) for the quarter, beating 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%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP boosted its position in shares of Dingdong (Cayman) by 81.0% in the third quarter. GSA Capital Partners LLP now owns 72,561 shares of the company’s stock valued at $258,000 after acquiring an additional 32,478 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Dingdong (Cayman) by 3,090.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 684,345 shares of the company’s stock valued at $2,429,000 after purchasing an additional 662,894 shares during the period. Centiva Capital LP purchased a new position in shares of Dingdong (Cayman) during the 3rd quarter valued at $170,000. Quadrature Capital Ltd increased its holdings in shares of Dingdong (Cayman) by 87.9% in the third quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock worth $168,000 after purchasing an additional 22,302 shares during the period. Finally, State Street Corp raised its position in shares of Dingdong (Cayman) by 32.7% in the third quarter. State Street Corp now owns 253,119 shares of the company’s stock worth $899,000 after buying an additional 62,338 shares in the last quarter. Hedge funds and other institutional investors own 24.66% of the company’s stock.

Dingdong (Cayman) Price Performance

The company has a market cap of $813.33 million, a P/E ratio of 38.28 and a beta of 0.45. The company has a 50 day moving average of $3.39 and a 200-day moving average 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.