Dada Nexus Limited (NASDAQ:DADA) Receives $2.70 Consensus PT from Brokerages

Shares of Dada Nexus Limited (NASDAQ:DADA) have earned an average rating of “Hold” from the six analysts that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $2.70.

A number of research firms have issued reports on DADA. 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 note on Tuesday, November 12th. Daiwa America raised shares of Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. Daiwa Capital Markets began coverage on shares of Dada Nexus in a research note on Thursday, August 22nd. They set a “neutral” rating for the company. Finally, Citigroup dropped their price target on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a research note on Friday, November 15th.

Dada Nexus Trading Up 2.1 %

Shares of NASDAQ DADA opened at $1.46 on Thursday. Dada Nexus has a 12-month low of $1.04 and a 12-month high of $3.67. The company has a market cap of $379.31 million, a price-to-earnings ratio of -1.32 and a beta of 1.39. The stock’s 50 day simple moving average is $1.67 and its 200 day simple moving average is $1.49.

Hedge Funds Weigh In On Dada Nexus

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Dada Nexus by 25.0% during the 1st quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company’s stock worth $7,027,000 after buying an additional 686,316 shares in the last quarter. Renaissance Technologies LLC increased its stake 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 acquiring an additional 380,100 shares during the period. Marshall Wace LLP raised its holdings in Dada Nexus by 7.5% during the second quarter. Marshall Wace LLP now owns 619,716 shares of the company’s stock worth $781,000 after purchasing an additional 43,359 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Dada Nexus by 202.3% in the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock worth $779,000 after purchasing an additional 413,600 shares during the period. Finally, Jane Street Group LLC lifted its position in Dada Nexus by 45.5% in the third quarter. Jane Street Group LLC now owns 235,666 shares of the company’s stock worth $448,000 after purchasing an additional 73,720 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.