Dada Nexus (NASDAQ:DADA) Trading 4.2% Higher

Dada Nexus Limited (NASDAQ:DADA)’s stock price was up 4.2% during trading on Thursday . The company traded as high as $2.10 and last traded at $2.10. Approximately 222,323 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 3,313,637 shares. The stock had previously closed at $2.01.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DADA shares. Daiwa Capital Markets upgraded Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 price objective on the stock in a research report on Tuesday, February 20th. Mizuho decreased their price target on Dada Nexus from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, January 17th. Citigroup lowered shares of Dada Nexus from a “buy” rating to a “sell” rating in a research note on Monday, January 8th. Finally, New Street Research reissued a “neutral” rating and issued a $2.00 target price (down previously from $15.00) on shares of Dada Nexus in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.00.

Dada Nexus Trading Down 7.3 %

The company has a 50-day simple moving average of $2.15 and a 200 day simple moving average of $2.89. The company has a market cap of $500.44 million, a P/E ratio of -1.46 and a beta of 1.50.

Institutional Investors Weigh In On Dada Nexus

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Dada Nexus by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 2,741,483 shares of the company’s stock valued at $9,102,000 after acquiring an additional 129,070 shares in the last quarter. TT International Asset Management LTD grew its holdings in Dada Nexus by 33.9% during the 4th quarter. TT International Asset Management LTD now owns 3,367,558 shares of the company’s stock worth $11,180,000 after acquiring an additional 852,790 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Dada Nexus during the 4th quarter valued at about $41,000. OLD Mission Capital LLC bought a new stake in shares of Dada Nexus in the 4th quarter valued at about $182,000. Finally, Garden State Investment Advisory Services LLC purchased a new stake in shares of Dada Nexus in the 4th quarter worth approximately $443,000. 59.25% of the stock is owned by hedge funds and other 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 platform for consumers, retailers, and brand owner.