Fore Capital LLC Lowers Stake in Dada Nexus Limited (NASDAQ:DADA)

Fore Capital LLC cut its holdings in Dada Nexus Limited (NASDAQ:DADA) by 22.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,000 shares of the company’s stock after selling 20,000 shares during the quarter. Fore Capital LLC’s holdings in Dada Nexus were worth $85,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Dada Nexus in the 3rd quarter valued at about $26,000. GenTrust LLC purchased a new position in shares of Dada Nexus in the 4th quarter valued at approximately $33,000. QRG Capital Management Inc. acquired a new position in Dada Nexus in the 4th quarter valued at $34,000. New York State Common Retirement Fund purchased a new position in Dada Nexus during the 4th quarter worth $34,000. Finally, Wolverine Trading LLC purchased a new position in Dada Nexus during the 3rd quarter worth $42,000. 59.25% of the stock is owned by hedge funds and other institutional investors.

Dada Nexus Price Performance

Shares of DADA stock opened at $1.85 on Thursday. The business’s fifty day moving average price is $1.67 and its 200 day moving average price is $1.55. The firm has a market capitalization of $479.46 million, a PE ratio of -1.67 and a beta of 1.40. Dada Nexus Limited has a 1-year low of $1.04 and a 1-year high of $2.64.

Dada Nexus (NASDAQ:DADA) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.03) earnings per share 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 for the quarter.

Wall Street Analysts Forecast Growth

Separately, Citigroup dropped 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 note on Friday, November 15th. Four equities research 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, the stock has an average rating of “Hold” and an average target price of $2.67.

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.