Dada Nexus (NASDAQ:DADA) Sees Unusually-High Trading Volume

Shares of Dada Nexus Limited (NASDAQ:DADA) saw unusually-strong trading volume on Wednesday . Approximately 4,109,697 shares were traded during mid-day trading, an increase of 81% from the previous session’s volume of 2,268,184 shares.The stock last traded at $2.30 and had previously closed at $2.14.

Analyst Ratings Changes

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

Dada Nexus Stock Up 5.1 %

The firm has a market capitalization of $595.21 million, a price-to-earnings ratio of -1.94 and a beta of 1.33. The business has a 50-day moving average of $1.28 and a two-hundred day moving average of $1.61.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised 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 buying an additional 686,316 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Dada Nexus by 202.3% in the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock worth $779,000 after acquiring an additional 413,600 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Dada Nexus by 28.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock worth $2,170,000 after buying an additional 380,100 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Dada Nexus in the second quarter worth about $230,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Dada Nexus during the second quarter worth approximately $136,000. Institutional investors and hedge funds own 59.25% of the company’s stock.

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.