Dada Nexus (NASDAQ:DADA) Shares Gap Up – Time to Buy?

Dada Nexus Limited (NASDAQ:DADA)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $2.26, but opened at $2.35. Dada Nexus shares last traded at $2.38, with a volume of 923,667 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DADA. Citigroup raised shares of Dada Nexus from a “sell” rating to a “neutral” rating and lifted their price target for the company from $1.00 to $1.50 in a research report on Wednesday, August 21st. Daiwa Capital Markets initiated coverage on Dada Nexus in a research report on Thursday, August 22nd. They issued a “neutral” rating on the stock. Finally, Daiwa America upgraded Dada Nexus to a “hold” rating in a research note on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.35.

Dada Nexus Price Performance

The firm’s 50 day moving average price is $1.37 and its 200-day moving average price is $1.60. The stock has a market cap of $550.23 million, a P/E ratio of -1.63 and a beta of 1.37.

Dada Nexus (NASDAQ:DADA) last announced its quarterly earnings results on Tuesday, August 20th. The company reported ($0.09) earnings per share (EPS) for the quarter. Dada Nexus had a negative net margin of 19.81% and a negative return on equity of 10.94%. The company had revenue of $324.54 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Dada Nexus in the 1st quarter worth $28,000. Natixis purchased a new stake in Dada Nexus in the first quarter worth about $51,000. Headlands Technologies LLC raised its stake in shares of Dada Nexus by 615.5% in the first quarter. Headlands Technologies LLC now owns 40,643 shares of the company’s stock worth $83,000 after buying an additional 34,963 shares during the period. Fore Capital LLC purchased a new position in shares of Dada Nexus during the 1st quarter valued at about $92,000. Finally, EntryPoint Capital LLC grew its stake in shares of Dada Nexus by 69.6% during the 1st quarter. EntryPoint Capital LLC now owns 55,899 shares of the company’s stock valued at $115,000 after acquiring an additional 22,936 shares during the period. Institutional investors own 59.25% of the company’s stock.

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.