Citigroup Cuts Dada Nexus (NASDAQ:DADA) Price Target to $1.90

Dada Nexus (NASDAQ:DADA) had its target price cut by Citigroup from $2.00 to $1.90 in a research note released on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on DADA. Daiwa America upgraded Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. Mizuho reduced their price target 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. Finally, Daiwa Capital Markets began coverage on shares of Dada Nexus in a research note on Thursday, August 22nd. They issued a “neutral” rating for the company. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dada Nexus currently has a consensus rating of “Hold” and an average target price of $2.70.

Dada Nexus Stock Up 0.7 %

Shares of NASDAQ DADA opened at $1.38 on Friday. The company has a market capitalization of $358.52 million, a PE ratio of -1.24 and a beta of 1.39. Dada Nexus has a twelve month low of $1.04 and a twelve month high of $4.12. The firm has a fifty day simple moving average of $1.62 and a 200 day simple moving average of $1.53.

Dada Nexus (NASDAQ:DADA) last posted its quarterly earnings data on Tuesday, August 20th. The company reported ($0.09) earnings per share for the quarter. The business had revenue of $324.54 million during the quarter. Dada Nexus had a negative return on equity of 12.39% and a negative net margin of 20.95%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Dada Nexus during the third quarter worth about $26,000. Virtu Financial LLC acquired a new position in Dada Nexus during the 1st quarter valued at about $28,000. Wolverine Trading LLC bought a new stake in Dada Nexus during the 3rd quarter worth approximately $42,000. Natixis purchased a new stake in shares of Dada Nexus in the first quarter worth approximately $51,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Dada Nexus in the third quarter worth approximately $67,000. 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.