Harbour Capital Advisors LLC Makes New $159,000 Investment in Dada Nexus Limited (NASDAQ:DADA)

Harbour Capital Advisors LLC bought a new position in Dada Nexus Limited (NASDAQ:DADA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 120,330 shares of the company’s stock, valued at approximately $159,000.

A number of other large investors have also added to or reduced their stakes in DADA. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Dada Nexus during the third quarter worth about $26,000. Wolverine Trading LLC purchased a new stake in shares of Dada Nexus during the third quarter worth about $42,000. Quadrature Capital Ltd purchased a new stake in shares of Dada Nexus during the third quarter worth about $67,000. Headlands Technologies LLC grew its stake in shares of Dada Nexus by 111.2% during the second quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock worth $108,000 after acquiring an additional 45,192 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Dada Nexus during the third quarter worth about $126,000. 59.25% of the stock is currently owned by institutional investors.

Dada Nexus Trading Down 1.6 %

Dada Nexus stock opened at $1.22 on Tuesday. The firm has a market cap of $316.96 million, a PE ratio of -1.10 and a beta of 1.36. The stock’s 50 day simple moving average is $1.42 and its two-hundred day simple moving average is $1.44. Dada Nexus Limited has a 12 month low of $1.04 and a 12 month high of $2.83.

Wall Street Analysts Forecast Growth

A number of equities 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 on the stock in a research note on Tuesday, November 12th. Citigroup dropped their target price on 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 analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Dada Nexus has an average rating of “Hold” and a consensus price target 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.