Rovida Investment Management Ltd Buys Shares of 4,613,268 Dada Nexus Limited (NASDAQ:DADA)

Rovida Investment Management Ltd acquired a new stake in Dada Nexus Limited (NASDAQ:DADA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,613,268 shares of the company's stock, valued at approximately $5,536,000. Dada Nexus comprises approximately 1.7% of Rovida Investment Management Ltd's investment portfolio, making the stock its 13th biggest holding. Rovida Investment Management Ltd owned about 1.78% of Dada Nexus at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DADA. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Dada Nexus in the third quarter worth about $26,000. Quadrature Capital Ltd purchased a new position in Dada Nexus in the 3rd quarter worth approximately $67,000. Wolverine Trading LLC purchased a new position in Dada Nexus in the 3rd quarter worth approximately $42,000. Jane Street Group LLC boosted its holdings in shares of Dada Nexus by 45.5% during the 3rd quarter. Jane Street Group LLC now owns 235,666 shares of the company's stock worth $448,000 after purchasing an additional 73,720 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Dada Nexus by 219.4% in the third quarter. JPMorgan Chase & Co. now owns 224,866 shares of the company's stock valued at $427,000 after purchasing an additional 154,460 shares in the last quarter. Hedge funds and other institutional investors own 59.25% of the company's stock.

Dada Nexus Price Performance

Dada Nexus stock remained flat at $1.85 during trading on Friday. The company had a trading volume of 625,840 shares, compared to its average volume of 1,697,979. The firm's 50-day moving average price is $1.81 and its 200 day moving average price is $1.61. The firm has a market capitalization of $479.46 million, a P/E ratio of -1.67 and a beta of 1.40. Dada Nexus Limited has a 52-week low of $1.04 and a 52-week high of $2.52.

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Dada Nexus (NASDAQ:DADA - Get Free Report) last posted its quarterly 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 company had revenue of $338.25 million for the quarter.

Dada Nexus Profile

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.