Point72 Asia Singapore Pte. Ltd. Buys Shares of 13,592 Dada Nexus Limited (NASDAQ:DADA)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Dada Nexus Limited (NASDAQ:DADA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,592 shares of the company’s stock, valued at approximately $26,000.

A number of other large investors have also made changes to their positions in DADA. Headlands Technologies LLC grew its position in Dada Nexus by 111.2% during the second quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock worth $108,000 after buying an additional 45,192 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Dada Nexus during the 3rd quarter worth approximately $126,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Dada Nexus in the 2nd quarter worth approximately $136,000. Dimensional Fund Advisors LP purchased a new position in Dada Nexus in the 2nd quarter valued at approximately $230,000. Finally, Canada Pension Plan Investment Board raised its holdings in Dada Nexus by 202.3% during the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock worth $779,000 after purchasing an additional 413,600 shares during the last quarter. Hedge funds and other institutional investors own 59.25% of the company’s stock.

Dada Nexus Trading Up 2.2 %

Shares of DADA stock opened at $1.42 on Monday. The company has a market capitalization of $368.92 million, a price-to-earnings ratio of -1.28 and a beta of 1.32. The firm has a 50-day moving average price of $1.66 and a 200 day moving average price of $1.47. Dada Nexus Limited has a twelve month low of $1.04 and a twelve month high of $3.67.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Daiwa America raised Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. Daiwa Capital Markets started coverage on shares of Dada Nexus in a report on Thursday, August 22nd. They set a “neutral” rating for the company. Mizuho cut their target price on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Finally, Citigroup lowered their price target on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.70.

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.