Cladis Investment Advisory LLC Sells 8,200 Shares of Dada Nexus Limited (NASDAQ:DADA)

Cladis Investment Advisory LLC lowered its position in Dada Nexus Limited (NASDAQ:DADA) by 5.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 150,000 shares of the company’s stock after selling 8,200 shares during the period. Cladis Investment Advisory LLC’s holdings in Dada Nexus were worth $285,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DADA. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Dada Nexus during the 3rd quarter worth $26,000. SG Americas Securities LLC acquired a new position in Dada Nexus during the third quarter worth $126,000. Susquehanna Fundamental Investments LLC acquired a new position in Dada Nexus during the second quarter worth $136,000. Marshall Wace LLP raised its holdings in Dada Nexus by 7.5% during the second quarter. Marshall Wace LLP now owns 619,716 shares of the company’s stock valued at $781,000 after buying an additional 43,359 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Dada Nexus by 202.3% in the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock worth $779,000 after buying an additional 413,600 shares during the last quarter. Institutional investors own 59.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DADA. Daiwa Capital Markets began coverage on Dada Nexus in a report on Thursday, August 22nd. They set a “neutral” rating on the stock. Daiwa America upgraded Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. Mizuho reduced their price objective on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Citigroup lowered their target price 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. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Dada Nexus presently has an average rating of “Hold” and a consensus target price of $2.70.

Dada Nexus Stock Up 2.1 %

Shares of DADA stock opened at $1.46 on Monday. Dada Nexus Limited has a 12 month low of $1.04 and a 12 month high of $3.67. The firm has a market cap of $379.32 million, a PE ratio of -1.32 and a beta of 1.39. The stock has a 50 day moving average of $1.67 and a 200-day moving average of $1.49.

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.