Walleye Capital LLC Trims Stock Holdings in Dada Nexus Limited (NASDAQ:DADA)

Walleye Capital LLC lowered its position in shares of Dada Nexus Limited (NASDAQ:DADA) by 10.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 111,548 shares of the company’s stock after selling 13,116 shares during the period. Walleye Capital LLC’s holdings in Dada Nexus were worth $212,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Dada Nexus during the third quarter valued at about $126,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Dada Nexus in the second quarter valued at $136,000. Marshall Wace LLP increased its position in Dada Nexus by 7.5% in the second quarter. Marshall Wace LLP now owns 619,716 shares of the company’s stock worth $781,000 after purchasing an additional 43,359 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Dada Nexus by 202.3% during the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock valued at $779,000 after purchasing an additional 413,600 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Dada Nexus by 28.3% during the second quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock valued at $2,170,000 after purchasing an additional 380,100 shares during the last quarter. Hedge funds and other institutional investors own 59.25% of the company’s stock.

Dada Nexus Price Performance

Shares of DADA opened at $1.48 on Thursday. The firm has a market capitalization of $384.51 million, a price-to-earnings ratio of -1.36 and a beta of 1.32. The company has a 50-day moving average of $1.65 and a 200 day moving average of $1.47. Dada Nexus Limited has a 1-year low of $1.04 and a 1-year high of $3.67.

Analyst Upgrades and Downgrades

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

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.