Prescott Group Capital Management L.L.C. Purchases 198,000 Shares of Dada Nexus Limited (NASDAQ:DADA)

Prescott Group Capital Management L.L.C. lifted its stake in Dada Nexus Limited (NASDAQ:DADA - Free Report) by 17.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,347,334 shares of the company's stock after acquiring an additional 198,000 shares during the period. Prescott Group Capital Management L.L.C. owned 0.52% of Dada Nexus worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in DADA. JPMorgan Chase & Co. raised its holdings in Dada Nexus by 219.4% during the third quarter. JPMorgan Chase & Co. now owns 224,866 shares of the company's stock worth $427,000 after purchasing an additional 154,460 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Dada Nexus by 45.5% in the 3rd quarter. Jane Street Group LLC now owns 235,666 shares of the company's stock worth $448,000 after buying an additional 73,720 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Dada Nexus in the fourth quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Dada Nexus during the 3rd quarter valued at about $26,000. Finally, QRG Capital Management Inc. bought a new stake in shares of Dada Nexus in the 4th quarter worth approximately $34,000. 59.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Mizuho cut their target price on Dada Nexus from $4.50 to $4.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 12th. Citigroup cut their price objective on Dada Nexus from $2.00 to $1.90 and set a "neutral" rating on the stock in a report on Friday, November 15th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $2.67.

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Dada Nexus Stock Up 1.1 %

DADA stock traded up $0.02 during midday trading on Tuesday, hitting $1.85. 968,709 shares of the company traded hands, compared to its average volume of 1,753,423. The business has a 50 day simple moving average of $1.64 and a 200-day simple moving average of $1.54. Dada Nexus Limited has a twelve month low of $1.04 and a twelve month high of $2.69. The stock has a market capitalization of $479.46 million, a price-to-earnings ratio of -1.67 and a beta of 1.40.

Dada Nexus (NASDAQ:DADA - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported ($0.03) EPS for the quarter. Dada Nexus had a negative return on equity of 12.70% and a negative net margin of 20.95%. The firm had revenue of $338.25 million during the quarter.

About Dada Nexus

Dada Nexus Limited operates a platform of local on-demand retail and delivery in the People's Republic of China. It operates Dada Now, a local on-demand delivery platform that provides intra-city delivery and last-mile delivery services on an on-demand basis to chain merchants, small- and medium-sized enterprise merchants, and individual senders; and JDDJ, a local on-demand retail platforms for consumers, retailers, and brand owners.