Dada Nexus Limited (NASDAQ:DADA) Receives Consensus Recommendation of “Hold” from Analysts

Dada Nexus Limited (NASDAQ:DADA) has earned a consensus rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $2.70.

A number of research analysts have recently commented on the stock. Daiwa America raised shares of Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets initiated coverage on Dada Nexus in a report on Thursday, August 22nd. They issued a “neutral” rating for the company. Mizuho reduced their price objective on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Finally, Citigroup lowered their price objective on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a research report on Friday, November 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DADA. Point72 Asia Singapore Pte. Ltd. acquired a new position in Dada Nexus during the 3rd quarter worth about $26,000. Virtu Financial LLC acquired a new position in shares of Dada Nexus during the first quarter worth approximately $28,000. Wolverine Trading LLC bought a new stake in shares of Dada Nexus during the third quarter valued at approximately $42,000. Quadrature Capital Ltd acquired a new stake in shares of Dada Nexus in the third quarter valued at approximately $67,000. Finally, Marshall Wace LLP raised its position in Dada Nexus by 7.5% in the 2nd quarter. Marshall Wace LLP now owns 619,716 shares of the company’s stock worth $781,000 after purchasing an additional 43,359 shares during the last quarter. Institutional investors own 59.25% of the company’s stock.

Dada Nexus Stock Up 6.7 %

DADA opened at $1.43 on Thursday. The stock’s 50 day moving average price is $1.66 and its two-hundred day moving average price is $1.50. The firm has a market capitalization of $371.51 million, a P/E ratio of -1.29 and a beta of 1.39. Dada Nexus has a 12-month low of $1.04 and a 12-month high of $3.72.

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.