Dada Nexus (NASDAQ:DADA) Price Target Cut to $1.90 by Analysts at Citigroup

Dada Nexus (NASDAQ:DADA) had its price objective cut by Citigroup from $2.00 to $1.90 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also recently commented on the company. Mizuho dropped their price target on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Daiwa Capital Markets started coverage on shares of Dada Nexus in a report on Thursday, August 22nd. They set a “neutral” rating on the stock. Finally, Daiwa America upgraded shares of Dada Nexus to a “hold” rating in a research note on Thursday, August 22nd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.70.

Dada Nexus Price Performance

NASDAQ DADA opened at $1.38 on Friday. The business’s fifty day moving average is $1.62 and its 200-day moving average is $1.53. The stock has a market capitalization of $358.52 million, a price-to-earnings ratio of -1.24 and a beta of 1.39. Dada Nexus has a one year low of $1.04 and a one year high of $4.12.

Dada Nexus (NASDAQ:DADA) last released its earnings results 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 20.95% and a negative return on equity of 12.39%.

Institutional Investors Weigh In On Dada Nexus

Several hedge funds and other institutional investors have recently modified their holdings of DADA. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Dada Nexus in the third quarter valued at approximately $26,000. Virtu Financial LLC purchased a new stake in Dada Nexus in the 1st quarter worth approximately $28,000. EntryPoint Capital LLC boosted its holdings in Dada Nexus by 69.6% in the 1st quarter. EntryPoint Capital LLC now owns 55,899 shares of the company’s stock valued at $115,000 after purchasing an additional 22,936 shares during the period. Wolverine Trading LLC purchased a new position in shares of Dada Nexus during the 3rd quarter valued at $42,000. Finally, Natixis bought a new position in shares of Dada Nexus in the first quarter worth $51,000. 59.25% of the stock is currently owned by institutional investors.

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.