ABS Direct Equity Fund LLC Buys Shares of 200,900 Dada Nexus Limited (NASDAQ:DADA)

ABS Direct Equity Fund LLC purchased a new position in shares of Dada Nexus Limited (NASDAQ:DADA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 200,900 shares of the company’s stock, valued at approximately $667,000. ABS Direct Equity Fund LLC owned approximately 0.08% of Dada Nexus as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DADA. Kaizen Capital Partners Ltd increased its stake in Dada Nexus by 6.9% during the 3rd quarter. Kaizen Capital Partners Ltd now owns 12,281,623 shares of the company’s stock worth $54,653,000 after purchasing an additional 788,425 shares in the last quarter. Aviva PLC increased its position in shares of Dada Nexus by 56.0% during the third quarter. Aviva PLC now owns 1,443,060 shares of the company’s stock worth $6,422,000 after acquiring an additional 518,113 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Dada Nexus by 135.5% during the third quarter. Federated Hermes Inc. now owns 1,203,059 shares of the company’s stock worth $5,354,000 after acquiring an additional 692,120 shares during the period. Lansdowne Partners UK LLP bought a new stake in Dada Nexus in the 3rd quarter valued at $2,920,000. Finally, Janney Montgomery Scott LLC boosted its stake in Dada Nexus by 74.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 249,261 shares of the company’s stock worth $1,109,000 after purchasing an additional 106,168 shares during the period. Institutional investors and hedge funds own 59.25% of the company’s stock.

Dada Nexus Trading Up 0.5 %

Shares of Dada Nexus stock traded up $0.01 on Friday, reaching $2.17. 1,418,295 shares of the company were exchanged, compared to its average volume of 1,637,560. Dada Nexus Limited has a one year low of $1.36 and a one year high of $7.03. The company has a 50-day moving average of $2.15 and a 200 day moving average of $2.65.

Dada Nexus (NASDAQ:DADA) last posted its quarterly earnings results on Monday, March 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The firm had revenue of $381.95 million for the quarter, compared to the consensus estimate of $436.80 million. Dada Nexus had a negative return on equity of 14.07% and a negative net margin of 22.62%. Equities research analysts predict that Dada Nexus Limited will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DADA shares. The Goldman Sachs Group assumed coverage on Dada Nexus in a research note on Thursday, April 25th. They issued a “neutral” rating and a $2.10 price target on the stock. New Street Research reaffirmed a “neutral” rating and set a $2.00 price target (down previously from $15.00) on shares of Dada Nexus in a research report on Wednesday, March 6th. Citigroup downgraded shares of Dada Nexus from a “buy” rating to a “sell” rating in a report on Monday, January 8th. Daiwa Capital Markets upgraded shares of Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 target price for the company in a report on Tuesday, February 20th. Finally, Mizuho decreased their target price on shares of Dada Nexus from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Dada Nexus currently has a consensus rating of “Hold” and a consensus target price of $4.85.

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.