Dada Nexus (NASDAQ:DADA) Trading Up 3.9%

Shares of Dada Nexus Limited (NASDAQ:DADA) rose 3.9% during trading on Tuesday . The company traded as high as $2.03 and last traded at $1.98. Approximately 1,077,665 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 2,238,650 shares. The stock had previously closed at $1.90.

Analysts Set New Price Targets

A number of research firms recently weighed in on DADA. Daiwa America raised shares of Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets initiated coverage on Dada Nexus in a research report on Thursday, August 22nd. They set a “neutral” rating for the company. Finally, Citigroup upgraded Dada Nexus from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $1.00 to $1.50 in a research note on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.35.

Dada Nexus Stock Performance

The business has a fifty day moving average of $1.27 and a two-hundred day moving average of $1.61. The firm has a market capitalization of $539.65 million, a price-to-earnings ratio of -1.63 and a beta of 1.33.

Dada Nexus (NASDAQ:DADA) last issued its quarterly earnings data on Tuesday, August 20th. The company reported ($0.09) earnings per share for the quarter. The company had revenue of $324.54 million during the quarter. Dada Nexus had a negative net margin of 19.81% and a negative return on equity of 10.94%.

Institutional Investors Weigh In On Dada Nexus

Hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in Dada Nexus in the 1st quarter valued at $28,000. Natixis acquired a new stake in Dada Nexus in the 1st quarter worth about $51,000. Headlands Technologies LLC boosted its holdings in Dada Nexus by 615.5% in the 1st quarter. Headlands Technologies LLC now owns 40,643 shares of the company’s stock valued at $83,000 after purchasing an additional 34,963 shares during the period. Fore Capital LLC bought a new position in shares of Dada Nexus during the first quarter worth approximately $92,000. Finally, EntryPoint Capital LLC increased its holdings in shares of Dada Nexus by 69.6% during the first quarter. EntryPoint Capital LLC now owns 55,899 shares of the company’s stock worth $115,000 after purchasing an additional 22,936 shares during the period. 59.25% of the stock is currently owned by institutional investors and hedge funds.

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.