State Street Corp Reduces Position in Dada Nexus Limited (NASDAQ:DADA)

State Street Corp lessened its position in shares of Dada Nexus Limited (NASDAQ:DADA) by 84.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,416 shares of the company’s stock after selling 492,373 shares during the quarter. State Street Corp’s holdings in Dada Nexus were worth $174,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DADA. Point72 Asia Singapore Pte. Ltd. purchased a new position in Dada Nexus during the 3rd quarter worth approximately $26,000. Quadrature Capital Ltd purchased a new position in Dada Nexus during the 3rd quarter worth approximately $67,000. Headlands Technologies LLC grew its stake in Dada Nexus by 111.2% during the 2nd 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 last quarter. SG Americas Securities LLC purchased a new position in Dada Nexus during the 3rd quarter worth approximately $126,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Dada Nexus during the 2nd quarter worth approximately $136,000. Hedge funds and other institutional investors own 59.25% of the company’s stock.

Dada Nexus Price Performance

DADA opened at $1.32 on Friday. The business has a 50 day simple moving average of $1.47 and a 200-day simple moving average of $1.44. The stock has a market capitalization of $342.94 million, a P/E ratio of -1.19 and a beta of 1.32. Dada Nexus Limited has a 12 month low of $1.04 and a 12 month high of $3.36.

Analysts Set New Price Targets

DADA has been the topic of a number of research reports. Mizuho dropped their price target on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Citigroup lowered their target price 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 analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Dada Nexus currently has an average rating of “Hold” and a consensus target price 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.