JPMorgan Chase & Co. Raises Holdings in Dada Nexus Limited (NASDAQ:DADA)

JPMorgan Chase & Co. increased its holdings in shares of Dada Nexus Limited (NASDAQ:DADA) by 219.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 224,866 shares of the company’s stock after acquiring an additional 154,460 shares during the period. JPMorgan Chase & Co. owned approximately 0.09% of Dada Nexus worth $427,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DADA. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Dada Nexus in the 3rd quarter valued at about $26,000. Wolverine Trading LLC acquired a new stake in shares of Dada Nexus during the 3rd quarter valued at approximately $42,000. Quadrature Capital Ltd purchased a new stake in shares of Dada Nexus during the 3rd quarter worth approximately $67,000. SG Americas Securities LLC acquired a new stake in shares of Dada Nexus in the 3rd quarter worth approximately $126,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Dada Nexus in the 2nd quarter valued at approximately $136,000. Hedge funds and other institutional investors own 59.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on DADA shares. Mizuho dropped their price target on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Citigroup cut their target price on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a research report 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.70.

Dada Nexus Price Performance

NASDAQ:DADA opened at $1.82 on Thursday. Dada Nexus Limited has a 1-year low of $1.04 and a 1-year high of $2.83. The firm has a 50 day simple moving average of $1.38 and a 200-day simple moving average of $1.44. The firm has a market cap of $472.84 million, a PE ratio of -1.64 and a beta of 1.36.

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.