Fore Capital LLC Reduces Holdings in Dada Nexus Limited (NASDAQ:DADA)

Fore Capital LLC reduced its stake in shares of Dada Nexus Limited (NASDAQ:DADA) by 22.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,000 shares of the company’s stock after selling 20,000 shares during the period. Fore Capital LLC’s holdings in Dada Nexus were worth $85,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings 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 worth $427,000 after acquiring an additional 154,460 shares during the last quarter. Jane Street Group LLC raised its stake in Dada Nexus by 45.5% in the 3rd quarter. Jane Street Group LLC now owns 235,666 shares of the company’s stock valued at $448,000 after purchasing an additional 73,720 shares during the last quarter. New York State Common Retirement Fund purchased a new position in Dada Nexus in the 4th quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Dada Nexus in the 3rd quarter valued at about $26,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of Dada Nexus during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 59.25% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup cut their price objective on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a research report on Friday, November 15th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.67.

Dada Nexus Stock Performance

Shares of NASDAQ:DADA opened at $1.85 on Thursday. The firm has a market cap of $479.46 million, a price-to-earnings ratio of -1.67 and a beta of 1.40. The stock’s 50-day moving average price is $1.67 and its two-hundred day moving average price is $1.55. Dada Nexus Limited has a 12-month low of $1.04 and a 12-month high of $2.64.

Dada Nexus (NASDAQ:DADA) last released its earnings results on Wednesday, March 5th. The company reported ($0.03) earnings per share (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 during 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.