Dada Nexus Limited (NASDAQ:DADA) Given Consensus Recommendation of “Hold” by Analysts

Shares of Dada Nexus Limited (NASDAQ:DADA) have earned an average rating of “Hold” from the six research firms that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $2.70.

Several brokerages have issued reports on DADA. Citigroup dropped their target price 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. Mizuho cut 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.

Dada Nexus Trading Down 0.7 %

Shares of DADA stock opened at $1.36 on Monday. Dada Nexus has a 12-month low of $1.04 and a 12-month high of $3.67. The stock has a market capitalization of $353.33 million, a P/E ratio of -1.23 and a beta of 1.32. The firm’s 50 day moving average is $1.51 and its 200 day moving average is $1.45.

Institutional Investors Weigh In On Dada Nexus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DADA. Renaissance Technologies LLC boosted its stake in Dada Nexus by 28.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock worth $2,170,000 after purchasing an additional 380,100 shares during the period. Marshall Wace LLP increased its position in Dada Nexus by 7.5% during the second quarter. Marshall Wace LLP now owns 619,716 shares of the company’s stock valued at $781,000 after acquiring an additional 43,359 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Dada Nexus by 202.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock valued at $779,000 after purchasing an additional 413,600 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Dada Nexus by 45.5% during the third quarter. Jane Street Group LLC now owns 235,666 shares of the company’s stock valued at $448,000 after purchasing an additional 73,720 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Dada Nexus by 219.4% during the third quarter. JPMorgan Chase & Co. now owns 224,866 shares of the company’s stock worth $427,000 after acquiring an additional 154,460 shares during the period. Institutional investors 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.