Wolverine Trading LLC Acquires New Stake in Dada Nexus Limited (NASDAQ:DADA)

Wolverine Trading LLC acquired a new stake in Dada Nexus Limited (NASDAQ:DADA) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,215 shares of the company’s stock, valued at approximately $42,000.

Several other institutional investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Dada Nexus in the third quarter valued at approximately $26,000. Quadrature Capital Ltd purchased a new position in Dada Nexus in the third quarter valued at approximately $67,000. Marshall Wace LLP lifted its stake in Dada Nexus by 7.5% in the second quarter. Marshall Wace LLP now owns 619,716 shares of the company’s stock valued at $781,000 after purchasing an additional 43,359 shares during the last quarter. Headlands Technologies LLC lifted its stake in Dada Nexus by 111.2% in the second quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock valued at $108,000 after purchasing an additional 45,192 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Dada Nexus in the third quarter valued at approximately $126,000. Hedge funds and other institutional investors own 59.25% of the company’s stock.

Dada Nexus Stock Performance

Shares of DADA stock opened at $1.45 on Wednesday. Dada Nexus Limited has a 52-week low of $1.04 and a 52-week high of $3.67. The company has a market capitalization of $376.72 million, a PE ratio of -1.31 and a beta of 1.32. The business’s fifty day moving average is $1.56 and its 200 day moving average is $1.46.

Wall Street Analysts Forecast Growth

DADA has been the topic of several recent research reports. Citigroup dropped their target price on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Mizuho dropped their target price on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Daiwa Capital Markets initiated coverage on Dada Nexus in a research report on Thursday, August 22nd. They set a “neutral” rating on the stock. Finally, Daiwa America upgraded Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. Five equities 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 has a consensus rating of “Hold” and a consensus price target of $2.70.

About Dada Nexus

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.