Dada Nexus Limited (NASDAQ:DADA) Given Average Rating of “Hold” by Brokerages

Dada Nexus Limited (NASDAQ:DADA) has earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $2.70.

Several equities research analysts have recently issued reports on DADA shares. Citigroup decreased their price objective on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a research report on Friday, November 15th. Daiwa America raised 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 on the stock. Finally, Mizuho lowered their price target on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its stake in Dada Nexus by 45.5% during the 3rd quarter. Jane Street Group LLC now owns 235,666 shares of the company’s stock worth $448,000 after purchasing an additional 73,720 shares during the period. Wolverine Trading LLC acquired a new stake in shares of Dada Nexus during the third quarter worth about $42,000. Quadrature Capital Ltd purchased a new position in shares of Dada Nexus during the third quarter worth about $67,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Dada Nexus in the 3rd quarter valued at about $26,000. Finally, SG Americas Securities LLC purchased a new stake in Dada Nexus during the 3rd quarter valued at approximately $126,000. Institutional investors and hedge funds own 59.25% of the company’s stock.

Dada Nexus Stock Up 6.7 %

Shares of Dada Nexus stock opened at $1.43 on Thursday. Dada Nexus has a 52-week low of $1.04 and a 52-week high of $3.72. The company has a 50 day moving average of $1.66 and a 200 day moving average of $1.50. The company has a market capitalization of $371.51 million, a P/E ratio of -1.29 and a beta of 1.39.

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.