Dada Nexus Limited (NASDAQ:DADA) Given Average Rating of “Hold” by Brokerages

Shares of Dada Nexus Limited (NASDAQ:DADA) have earned a consensus rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat.com reports. Five 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 objective among brokerages that have updated their coverage on the stock in the last year is $2.70.

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

Institutional Investors Weigh In On Dada Nexus

Several institutional investors and hedge funds have recently made changes to their positions in DADA. JPMorgan Chase & Co. raised its stake in Dada Nexus by 219.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 224,866 shares of the company’s stock worth $427,000 after acquiring an additional 154,460 shares during the last quarter. Jane Street Group LLC raised its stake in shares of 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 last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Dada Nexus during the second quarter worth about $230,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Dada Nexus during the third quarter worth about $26,000. Finally, SG Americas Securities LLC purchased a new stake in Dada Nexus in the third quarter valued at approximately $126,000. 59.25% of the stock is currently owned by institutional investors and hedge funds.

Dada Nexus Stock Up 1.6 %

NASDAQ:DADA opened at $1.88 on Tuesday. The stock has a market capitalization of $488.42 million, a price-to-earnings ratio of -1.69 and a beta of 1.41. Dada Nexus has a 52 week low of $1.04 and a 52 week high of $2.83. The firm has a 50 day moving average of $1.49 and a 200 day moving average of $1.48.

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.