Dada Nexus Limited (NASDAQ:DADA) Receives $3.35 Average PT from Analysts

Shares of Dada Nexus Limited (NASDAQ:DADA) have been assigned an average rating of “Hold” from the eight research firms that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $3.35.

A number of analysts have weighed in on DADA shares. Citigroup raised Dada Nexus from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $1.00 to $1.50 in a research report on Wednesday, August 21st. Daiwa Capital Markets began coverage on Dada Nexus in a report on Thursday, August 22nd. They set a “neutral” rating for the company. Finally, Daiwa America raised shares of Dada Nexus to a “hold” rating in a research note on Thursday, August 22nd.

Institutional Investors Weigh In On Dada Nexus

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Dada Nexus by 25.0% in the 1st quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company’s stock worth $7,027,000 after acquiring an additional 686,316 shares during the period. Renaissance Technologies LLC grew its holdings in Dada Nexus by 28.3% in the second quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock valued at $2,170,000 after purchasing an additional 380,100 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Dada Nexus by 202.3% in the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock valued at $779,000 after purchasing an additional 413,600 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Dada Nexus by 615.5% in the first quarter. Headlands Technologies LLC now owns 40,643 shares of the company’s stock valued at $83,000 after buying an additional 34,963 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Dada Nexus during the 1st quarter worth $28,000. 59.25% of the stock is currently owned by hedge funds and other institutional investors.

Dada Nexus Price Performance

DADA stock opened at $1.85 on Wednesday. The company has a market cap of $480.63 million, a price-to-earnings ratio of -1.70 and a beta of 1.37. The company has a fifty day moving average price of $1.41 and a 200 day moving average price of $1.60. Dada Nexus has a 12 month low of $1.04 and a 12 month high of $4.70.

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

Dada Nexus Company 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.