Dada Nexus Limited (NASDAQ:DADA) Receives $2.70 Consensus Price Target from Analysts

Dada Nexus Limited (NASDAQ:DADA) has received a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, 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 target price among brokerages that have issued a report on the stock in the last year is $2.70.

A number of brokerages have weighed in on DADA. Citigroup lowered 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. Daiwa Capital Markets assumed coverage on shares of Dada Nexus in a research note on Thursday, August 22nd. They issued a “neutral” rating for the company. Daiwa America upgraded shares of Dada Nexus to a “hold” rating in a research note on Thursday, August 22nd. Finally, 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 research report on Tuesday, November 12th.

Institutional Trading of Dada Nexus

Several institutional investors have recently added to or reduced their stakes in DADA. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Dada Nexus during the third quarter worth about $26,000. Virtu Financial LLC acquired a new stake in shares of Dada Nexus during the 1st quarter worth approximately $28,000. Wolverine Trading LLC acquired a new position in Dada Nexus during the 3rd quarter valued at approximately $42,000. Quadrature Capital Ltd bought a new position in Dada Nexus during the 3rd quarter worth $67,000. Finally, Headlands Technologies LLC increased its position in Dada Nexus by 111.2% in the second quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock worth $108,000 after buying an additional 45,192 shares during the period. Institutional investors own 59.25% of the company’s stock.

Dada Nexus Price Performance

NASDAQ:DADA opened at $1.46 on Thursday. The firm has a 50-day moving average of $1.67 and a two-hundred day moving average of $1.49. The stock has a market cap of $379.32 million, a P/E ratio of -1.32 and a beta of 1.39. Dada Nexus has a 1-year low of $1.04 and a 1-year high of $3.67.

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.