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

Dada Nexus (NASDAQ:DADA) had its price target reduced by equities researchers at Citigroup from $2.00 to $1.90 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 37.68% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Daiwa America raised shares of Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. Daiwa Capital Markets initiated coverage on shares of Dada Nexus in a research report on Thursday, August 22nd. They issued a “neutral” rating for the company. Finally, Mizuho reduced their price target on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Dada Nexus presently has an average rating of “Hold” and an average price target of $3.02.

Dada Nexus Trading Up 0.7 %

Shares of NASDAQ DADA opened at $1.38 on Friday. The firm has a market cap of $358.53 million, a P/E ratio of -1.24 and a beta of 1.39. The business’s 50 day moving average is $1.62 and its 200-day moving average is $1.54. Dada Nexus has a 1-year low of $1.04 and a 1-year high of $4.12.

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 firm had revenue of $324.54 million for 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

A number of hedge funds have recently added to or reduced their stakes in DADA. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Dada Nexus in the 3rd quarter valued at $26,000. Virtu Financial LLC bought a new stake in shares of Dada Nexus during the 1st quarter worth $28,000. Wolverine Trading LLC bought a new stake in shares of Dada Nexus during the 3rd quarter worth $42,000. Natixis acquired a new stake in Dada Nexus in the first quarter valued at about $51,000. Finally, Quadrature Capital Ltd bought a new position in Dada Nexus in the third quarter valued at about $67,000. 59.25% of the stock is owned by institutional investors.

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.