200,900 Shares in Dada Nexus Limited (NASDAQ:DADA) Acquired by ABS Direct Equity Fund LLC

ABS Direct Equity Fund LLC acquired a new stake in shares of Dada Nexus Limited (NASDAQ:DADA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 200,900 shares of the company’s stock, valued at approximately $667,000.

A number of other hedge funds also recently bought and sold shares of the company. Kaizen Capital Partners Ltd grew its position in Dada Nexus by 6.9% during the third quarter. Kaizen Capital Partners Ltd now owns 12,281,623 shares of the company’s stock valued at $54,653,000 after acquiring an additional 788,425 shares during the last quarter. Aviva PLC grew its holdings in shares of Dada Nexus by 56.0% during the 3rd quarter. Aviva PLC now owns 1,443,060 shares of the company’s stock valued at $6,422,000 after purchasing an additional 518,113 shares during the last quarter. Federated Hermes Inc. raised its position in Dada Nexus by 135.5% in the 3rd quarter. Federated Hermes Inc. now owns 1,203,059 shares of the company’s stock worth $5,354,000 after purchasing an additional 692,120 shares during the period. Lansdowne Partners UK LLP purchased a new stake in Dada Nexus during the third quarter valued at about $2,920,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of Dada Nexus by 74.2% during the third quarter. Janney Montgomery Scott LLC now owns 249,261 shares of the company’s stock valued at $1,109,000 after buying an additional 106,168 shares during the last quarter. Institutional investors own 59.25% of the company’s stock.

Dada Nexus Stock Up 0.5 %

Dada Nexus stock traded up $0.01 during mid-day trading on Friday, reaching $2.17. 1,418,295 shares of the company traded hands, compared to its average volume of 1,637,560. The firm’s 50 day moving average price is $2.15 and its 200 day moving average price is $2.65. Dada Nexus Limited has a 52-week low of $1.36 and a 52-week high of $7.03.

Dada Nexus (NASDAQ:DADA) last released its quarterly earnings results on Monday, March 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). The company had revenue of $381.95 million during the quarter, compared to the consensus estimate of $436.80 million. Dada Nexus had a negative return on equity of 14.07% and a negative net margin of 22.62%. Research analysts anticipate that Dada Nexus Limited will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup cut Dada Nexus from a “buy” rating to a “sell” rating in a report on Monday, January 8th. Mizuho dropped their price objective on Dada Nexus from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, January 17th. Daiwa Capital Markets raised shares of Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 target price on the stock in a research note on Tuesday, February 20th. New Street Research reiterated a “neutral” rating and set a $2.00 price target (down from $15.00) on shares of Dada Nexus in a report on Wednesday, March 6th. Finally, The Goldman Sachs Group assumed coverage on shares of Dada Nexus in a report on Thursday, April 25th. They issued a “neutral” rating and a $2.10 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.85.

Dada Nexus Company 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.