Dada Nexus (NASDAQ:DADA) Trading Down 2.5% – Here’s What Happened

Dada Nexus Limited Sponsored ADR (NASDAQ:DADA) was down 2.5% during mid-day trading on Tuesday . The company traded as low as $1.94 and last traded at $1.94. Approximately 3,894,883 shares traded hands during mid-day trading, an increase of 91% from the average daily volume of 2,043,280 shares. The stock had previously closed at $1.99.

Dada Nexus Stock Performance

The company has a fifty day simple moving average of $1.99 and a 200 day simple moving average of $1.83. The stock has a market capitalization of $499.71 million, a price-to-earnings ratio of -1.81 and a beta of 1.33.

Hedge Funds Weigh In On Dada Nexus

Large investors have recently modified their holdings of the business. Cladis Investment Advisory LLC raised its position in shares of Dada Nexus by 11.7% in the fourth quarter. Cladis Investment Advisory LLC now owns 167,500 shares of the company’s stock worth $203,000 after buying an additional 17,500 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Dada Nexus by 43.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 73,213 shares of the company’s stock valued at $135,000 after acquiring an additional 22,137 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Dada Nexus during the 4th quarter valued at about $46,000. Geode Capital Management LLC grew its holdings in shares of Dada Nexus by 472.8% during the fourth quarter. Geode Capital Management LLC now owns 62,858 shares of the company’s stock worth $76,000 after purchasing an additional 51,884 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Dada Nexus in the fourth quarter worth approximately $63,000. Hedge funds and other institutional investors own 59.25% of the company’s stock.

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.