New York State Common Retirement Fund Invests $34,000 in Dada Nexus Limited (NASDAQ:DADA)

New York State Common Retirement Fund purchased a new position in Dada Nexus Limited (NASDAQ:DADA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 28,339 shares of the company’s stock, valued at approximately $34,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Dada Nexus by 219.4% during the third quarter. JPMorgan Chase & Co. now owns 224,866 shares of the company’s stock valued at $427,000 after purchasing an additional 154,460 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in Dada Nexus in the 4th quarter valued at about $159,000. Jane Street Group LLC lifted its holdings in Dada Nexus by 45.5% in the 3rd quarter. Jane Street Group LLC now owns 235,666 shares of the company’s stock valued at $448,000 after acquiring an additional 73,720 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Dada Nexus during the third quarter valued at about $67,000. Finally, Wolverine Trading LLC purchased a new stake in Dada Nexus during the third quarter valued at about $42,000. Institutional investors own 59.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DADA. Citigroup reduced their price target 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. Mizuho lowered their price objective on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.67.

Dada Nexus Stock Performance

Shares of NASDAQ DADA opened at $1.89 on Friday. The stock has a market cap of $489.82 million, a PE ratio of -1.70 and a beta of 1.40. The business has a fifty day moving average of $1.62 and a two-hundred day moving average of $1.53. Dada Nexus Limited has a 52-week low of $1.04 and a 52-week high of $2.69.

Dada Nexus (NASDAQ:DADA) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($0.03) EPS for the quarter. The firm had revenue of $338.25 million during the quarter. Dada Nexus had a negative return on equity of 12.70% and a negative net margin of 20.95%.

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.