Rovida Investment Management Ltd Acquires New Shares in Dada Nexus Limited (NASDAQ:DADA)

Rovida Investment Management Ltd purchased a new position in Dada Nexus Limited (NASDAQ:DADA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,613,268 shares of the company’s stock, valued at approximately $5,536,000. Dada Nexus accounts for approximately 1.7% of Rovida Investment Management Ltd’s portfolio, making the stock its 13th largest position. Rovida Investment Management Ltd owned approximately 1.78% of Dada Nexus at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Dada Nexus during the third quarter valued at about $26,000. GenTrust LLC bought a new stake in Dada Nexus during the 4th quarter worth approximately $33,000. QRG Capital Management Inc. purchased a new stake in Dada Nexus in the 4th quarter worth approximately $34,000. New York State Common Retirement Fund bought a new position in Dada Nexus in the 4th quarter valued at $34,000. Finally, Wolverine Trading LLC purchased a new position in shares of Dada Nexus during the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 59.25% of the company’s stock.

Dada Nexus Stock Performance

Dada Nexus stock opened at $1.88 on Tuesday. The stock has a market cap of $487.23 million, a P/E ratio of -1.69 and a beta of 1.40. Dada Nexus Limited has a fifty-two week low of $1.04 and a fifty-two week high of $2.56. The firm’s fifty day moving average price is $1.76 and its 200-day moving average price is $1.60.

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

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.