State Street Corp cut its holdings in Dada Nexus Limited (NASDAQ:DADA - Free Report) by 84.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,416 shares of the company's stock after selling 492,373 shares during the period. State Street Corp's holdings in Dada Nexus were worth $174,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Dada Nexus in the 3rd quarter valued at $26,000. Quadrature Capital Ltd acquired a new position in shares of Dada Nexus during the 3rd quarter worth about $67,000. SG Americas Securities LLC bought a new stake in shares of Dada Nexus in the 3rd quarter valued at about $126,000. Headlands Technologies LLC lifted its stake in Dada Nexus by 111.2% in the 2nd quarter. Headlands Technologies LLC now owns 85,835 shares of the company's stock valued at $108,000 after purchasing an additional 45,192 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Dada Nexus during the second quarter worth about $136,000. Institutional investors own 59.25% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Mizuho cut their price objective on Dada Nexus from $4.50 to $4.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. Citigroup dropped their price target on Dada Nexus from $2.00 to $1.90 and set a "neutral" rating on the stock in a research note on Friday, November 15th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $2.70.
View Our Latest Stock Report on DADA
Dada Nexus Stock Down 0.8 %
Shares of Dada Nexus stock traded down $0.01 during trading on Friday, reaching $1.32. The company's stock had a trading volume of 557,007 shares, compared to its average volume of 1,152,154. Dada Nexus Limited has a 52 week low of $1.04 and a 52 week high of $3.36. The business's 50-day moving average price is $1.47 and its 200-day moving average price is $1.44. The firm has a market cap of $342.94 million, a PE ratio of -1.19 and a beta of 1.32.
About Dada Nexus
(
Free Report)
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.
Further Reading
Before you consider Dada Nexus, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Dada Nexus wasn't on the list.
While Dada Nexus currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
