Dada Nexus Limited (NASDAQ:DADA) Shares Sold by Cladis Investment Advisory LLC

Cladis Investment Advisory LLC reduced its stake in Dada Nexus Limited (NASDAQ:DADA) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 150,000 shares of the company’s stock after selling 8,200 shares during the period. Cladis Investment Advisory LLC owned 0.06% of Dada Nexus worth $285,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Dada Nexus in the third quarter worth approximately $26,000. Virtu Financial LLC bought a new position in Dada Nexus during the first quarter valued at about $28,000. Headlands Technologies LLC boosted its stake in Dada Nexus by 111.2% during the second quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock valued at $108,000 after buying an additional 45,192 shares in the last quarter. SG Americas Securities LLC acquired a new position in Dada Nexus during the third quarter worth about $126,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Dada Nexus in the second quarter worth about $136,000. 59.25% of the stock is currently owned by institutional investors.

Dada Nexus Stock Performance

Dada Nexus stock opened at $1.46 on Monday. Dada Nexus Limited has a 52 week low of $1.04 and a 52 week high of $3.67. The firm has a market capitalization of $379.32 million, a price-to-earnings ratio of -1.32 and a beta of 1.39. The company has a 50 day moving average price of $1.67 and a 200 day moving average price of $1.49.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DADA. Daiwa Capital Markets began coverage on shares of Dada Nexus in a research note on Thursday, August 22nd. They issued a “neutral” rating on the stock. Daiwa America upgraded shares of Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. Citigroup cut their price objective on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a research report on Friday, November 15th. Finally, Mizuho decreased their target price on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Dada Nexus presently has an average rating of “Hold” and an average target price of $2.70.

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.