Dada Nexus’ (DADA) Neutral Rating Reaffirmed at New Street Research

New Street Research reiterated their neutral rating on shares of Dada Nexus (NASDAQ:DADAFree Report) in a research report report published on Wednesday, MarketBeat reports. New Street Research currently has a $2.00 price target on the stock, down from their prior price target of $15.00.

Other analysts also recently issued reports about the company. CLSA assumed coverage on Dada Nexus in a research note on Friday, November 17th. They issued an outperform rating and a $4.60 target price for the company. Mizuho reduced their target price on Dada Nexus from $7.00 to $6.00 and set a buy rating for the company in a research note on Wednesday, January 17th. Daiwa Capital Markets upgraded Dada Nexus from a neutral rating to a buy rating and set a $3.50 target price for the company in a research note on Tuesday, February 20th. Finally, Citigroup downgraded Dada Nexus from a buy rating to a sell rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average target price of $6.00.

Check Out Our Latest Stock Analysis on Dada Nexus

Dada Nexus Price Performance

Shares of DADA opened at $2.56 on Wednesday. The stock has a 50-day moving average of $2.12 and a 200-day moving average of $3.39. The company has a market cap of $670.75 million, a PE ratio of -3.08 and a beta of 1.51. Dada Nexus has a one year low of $1.36 and a one year high of $10.19.

Hedge Funds Weigh In On Dada Nexus

A number of hedge funds have recently added to or reduced their stakes in the stock. Kaizen Capital Partners Ltd boosted its stake in shares of Dada Nexus by 6.9% in the 3rd quarter. Kaizen Capital Partners Ltd now owns 12,281,623 shares of the company’s stock worth $54,653,000 after buying an additional 788,425 shares during the last quarter. Aviva PLC boosted its stake in shares of Dada Nexus by 56.0% in the 3rd quarter. Aviva PLC now owns 1,443,060 shares of the company’s stock worth $6,422,000 after buying an additional 518,113 shares during the last quarter. Alberta Investment Management Corp boosted its stake in shares of Dada Nexus by 31.7% in the 2nd quarter. Alberta Investment Management Corp now owns 227,196 shares of the company’s stock worth $1,206,000 after buying an additional 54,719 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Dada Nexus by 111.0% in the 2nd quarter. ProShare Advisors LLC now owns 52,841 shares of the company’s stock worth $281,000 after buying an additional 27,792 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Dada Nexus by 135.5% in the 3rd quarter. Federated Hermes Inc. now owns 1,203,059 shares of the company’s stock worth $5,354,000 after buying an additional 692,120 shares during the last quarter. Institutional investors and hedge funds own 23.88% of the company’s stock.

Dada Nexus Company Profile

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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 platform for consumers, retailers, and brand owner.

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Analyst Recommendations for Dada Nexus (NASDAQ:DADA)

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