Harbour Capital Advisors LLC Invests $159,000 in Dada Nexus Limited (NASDAQ:DADA)

Harbour Capital Advisors LLC bought a new position in shares of Dada Nexus Limited (NASDAQ:DADA) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 120,330 shares of the company’s stock, valued at approximately $159,000.

Several other large investors have also made changes to their positions in DADA. Point72 Asia Singapore Pte. Ltd. acquired a new position in Dada Nexus in the 3rd quarter valued at $26,000. Wolverine Trading LLC acquired a new stake in shares of Dada Nexus in the 3rd quarter worth $42,000. Quadrature Capital Ltd acquired a new stake in shares of Dada Nexus in the 3rd quarter worth $67,000. Headlands Technologies LLC increased its stake in shares of Dada Nexus by 111.2% in the 2nd quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock worth $108,000 after acquiring an additional 45,192 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Dada Nexus in the 3rd quarter worth $126,000. 59.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DADA. Mizuho cut their target price on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Citigroup lowered their price target on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a report on Friday, November 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.70.

Dada Nexus Trading Down 1.6 %

NASDAQ DADA opened at $1.22 on Tuesday. The stock has a fifty day simple moving average of $1.42 and a 200-day simple moving average of $1.44. Dada Nexus Limited has a twelve month low of $1.04 and a twelve month high of $2.83. The stock has a market cap of $316.96 million, a PE ratio of -1.10 and a beta of 1.36.

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.