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

Dada Nexus Limited (NASDAQ:DADA) has been assigned a consensus rating of “Hold” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $2.70.

A number of research firms have issued reports on DADA. Citigroup decreased their price target on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a report on Friday, November 15th. 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.

Dada Nexus Stock Performance

Shares of DADA stock opened at $1.38 on Monday. The stock’s 50-day simple moving average is $1.52 and its 200-day simple moving average is $1.45. The firm has a market capitalization of $358.53 million, a price-to-earnings ratio of -1.24 and a beta of 1.32. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $3.67.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Dada Nexus in the third quarter valued at $26,000. Wolverine Trading LLC acquired a new position in shares of Dada Nexus in the 3rd quarter valued at about $42,000. Quadrature Capital Ltd acquired a new position in shares of Dada Nexus in the 3rd quarter valued at about $67,000. Headlands Technologies LLC boosted its stake in shares of Dada Nexus by 111.2% in the second quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock worth $108,000 after buying an additional 45,192 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Dada Nexus during the third quarter worth about $126,000. Hedge funds and other 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.