Analysts Set Dada Nexus Limited (NASDAQ:DADA) Target Price at $2.70

Dada Nexus Limited (NASDAQ:DADA) has earned an average rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $2.70.

Several brokerages recently weighed in on DADA. Mizuho dropped their target price on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Citigroup dropped their price objective on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a research note on Friday, November 15th.

Hedge Funds Weigh In On Dada Nexus

Several institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Dada Nexus during the third quarter worth $26,000. Wolverine Trading LLC purchased a new stake in shares of Dada Nexus during the 3rd quarter worth $42,000. Quadrature Capital Ltd bought a new stake in Dada Nexus during the third quarter valued at about $67,000. Headlands Technologies LLC grew its stake in Dada Nexus by 111.2% in the second quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock valued at $108,000 after purchasing an additional 45,192 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Dada Nexus during the third quarter valued at about $126,000. Hedge funds and other institutional investors own 59.25% of the company’s stock.

Dada Nexus Trading Up 2.2 %

Shares of NASDAQ DADA opened at $1.38 on Monday. Dada Nexus has a 12-month low of $1.04 and a 12-month high of $3.67. The firm has a market capitalization of $358.53 million, a price-to-earnings ratio of -1.24 and a beta of 1.32. The firm has a 50 day moving average of $1.52 and a 200 day moving average of $1.45.

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.