Brokerages Set Dada Nexus Limited (NASDAQ:DADA) Price Target at $2.70

Shares of Dada Nexus Limited (NASDAQ:DADA) have been given an average recommendation of “Hold” by the six analysts that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $2.70.

DADA has been the topic of several research analyst reports. Mizuho cut their target price 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. Citigroup cut their price target on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a report on Friday, November 15th. Daiwa America upgraded shares of Dada Nexus to a “hold” rating in a research note on Thursday, August 22nd. Finally, Daiwa Capital Markets assumed coverage on shares of Dada Nexus in a research note on Thursday, August 22nd. They set a “neutral” rating on the stock.

Dada Nexus Trading Up 2.1 %

Shares of Dada Nexus stock opened at $1.46 on Thursday. The business has a 50-day moving average price of $1.67 and a two-hundred day moving average price of $1.49. Dada Nexus has a 1-year low of $1.04 and a 1-year high of $3.67. The company has a market cap of $379.31 million, a P/E ratio of -1.32 and a beta of 1.39.

Hedge Funds Weigh In On Dada Nexus

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Dada Nexus by 25.0% in the 1st quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company’s stock valued at $7,027,000 after purchasing an additional 686,316 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Dada Nexus by 28.3% during the second quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock valued at $2,170,000 after buying an additional 380,100 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Dada Nexus by 202.3% during the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock worth $779,000 after acquiring an additional 413,600 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Dada Nexus in the 1st quarter worth about $28,000. Finally, Headlands Technologies LLC lifted its position in Dada Nexus by 111.2% in the 2nd quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock valued at $108,000 after acquiring an additional 45,192 shares in the last quarter. 59.25% of the stock is owned by institutional investors and hedge funds.

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.