Dada Nexus Limited (NASDAQ:DADA) Receives Consensus Rating of “Hold” from Brokerages

Dada Nexus Limited (NASDAQ:DADA) has received a consensus rating of “Hold” from the six ratings firms that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $2.70.

A number of brokerages have recently commented on DADA. Citigroup dropped their target price on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a report on Friday, November 15th. Mizuho dropped their price objective on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th.

Dada Nexus Trading Up 2.4 %

DADA opened at $1.29 on Friday. The stock has a 50-day moving average of $1.40 and a 200 day moving average of $1.44. Dada Nexus has a 12 month low of $1.04 and a 12 month high of $2.83. The firm has a market cap of $335.14 million, a P/E ratio of -1.16 and a beta of 1.36.

Institutional Investors Weigh In On Dada Nexus

A number of institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Dada Nexus in the third quarter worth $26,000. Wolverine Trading LLC bought a new position in shares of Dada Nexus in the third quarter worth about $42,000. Quadrature Capital Ltd purchased a new position in Dada Nexus in the 3rd quarter worth about $67,000. SG Americas Securities LLC bought a new stake in Dada Nexus during the 3rd quarter valued at about $126,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Dada Nexus in the 2nd quarter valued at about $136,000. 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.