Federated Hermes Inc. Sells 224,323 Shares of Dada Nexus Limited (NASDAQ:DADA)

Federated Hermes Inc. trimmed its stake in shares of Dada Nexus Limited (NASDAQ:DADA) by 18.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 978,736 shares of the company’s stock after selling 224,323 shares during the quarter. Federated Hermes Inc.’s holdings in Dada Nexus were worth $3,249,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DADA. Patriot Financial Group Insurance Agency LLC raised its position in shares of Dada Nexus by 62.4% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 28,735 shares of the company’s stock worth $128,000 after acquiring an additional 11,040 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Dada Nexus by 36.2% during the third quarter. Harbor Capital Advisors Inc. now owns 257,181 shares of the company’s stock worth $1,144,000 after acquiring an additional 68,341 shares during the last quarter. Kaizen Capital Partners Ltd raised its position in shares of Dada Nexus by 6.9% during the third quarter. Kaizen Capital Partners Ltd now owns 12,281,623 shares of the company’s stock worth $54,653,000 after acquiring an additional 788,425 shares during the last quarter. Van Berkom & Associates Inc. grew its stake in Dada Nexus by 2.3% during the third quarter. Van Berkom & Associates Inc. now owns 139,981 shares of the company’s stock worth $623,000 after purchasing an additional 3,100 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in Dada Nexus by 74.2% during the third quarter. Janney Montgomery Scott LLC now owns 249,261 shares of the company’s stock worth $1,109,000 after purchasing an additional 106,168 shares during the period. 59.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DADA shares. Citigroup cut Dada Nexus from a “buy” rating to a “sell” rating in a research note on Monday, January 8th. Daiwa Capital Markets raised Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 target price for the company in a research note on Tuesday, February 20th. The Goldman Sachs Group started coverage on Dada Nexus in a research note on Thursday. They set a “neutral” rating and a $2.10 target price for the company. New Street Research reaffirmed a “neutral” rating and set a $2.00 target price (down previously from $15.00) on shares of Dada Nexus in a research note on Wednesday, March 6th. Finally, Mizuho decreased their target price on Dada Nexus from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.85.

Dada Nexus Stock Performance

Shares of Dada Nexus stock opened at $2.01 on Friday. Dada Nexus Limited has a 52 week low of $1.36 and a 52 week high of $7.03. The stock has a 50 day moving average price of $2.16 and a two-hundred day moving average price of $2.72. The stock has a market capitalization of $526.64 million, a PE ratio of -1.53 and a beta of 1.50.

Dada Nexus (NASDAQ:DADA) last announced its quarterly earnings data on Monday, March 25th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). The firm had revenue of $381.95 million during the quarter, compared to analyst estimates of $436.80 million. Dada Nexus had a negative net margin of 22.62% and a negative return on equity of 14.06%. Research analysts forecast that Dada Nexus Limited will post 0.22 EPS for the current year.

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 platform for consumers, retailers, and brand owner.