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

Shares of Dada Nexus Limited (NASDAQ:DADA) have been given an average rating of “Hold” by the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $6.00.

Several equities analysts have recently weighed in on the stock. New Street Research reaffirmed a “neutral” rating and set a $2.00 price target (down from $15.00) on shares of Dada Nexus in a research note on Wednesday, March 6th. Citigroup cut shares of Dada Nexus from a “buy” rating to a “sell” rating in a research note on Monday, January 8th. Mizuho cut their price objective on Dada Nexus from $7.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, January 17th. Finally, Daiwa Capital Markets raised Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 price objective for the company in a report on Tuesday, February 20th.

Institutional Investors Weigh In On Dada Nexus

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Dada Nexus by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 2,741,483 shares of the company’s stock valued at $9,102,000 after purchasing an additional 129,070 shares during the last quarter. TT International Asset Management LTD lifted 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 valued at $11,180,000 after purchasing an additional 852,790 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Dada Nexus during the 4th quarter valued at $41,000. OLD Mission Capital LLC acquired a new stake in Dada Nexus during the 4th quarter valued at $182,000. Finally, Garden State Investment Advisory Services LLC acquired a new stake in Dada Nexus during the 4th quarter valued at $443,000. Institutional investors and hedge funds own 59.25% of the company’s stock.

Dada Nexus Stock Performance

NASDAQ DADA opened at $1.90 on Wednesday. The stock has a market cap of $497.82 million, a price-to-earnings ratio of -1.45 and a beta of 1.50. Dada Nexus has a 52-week low of $1.36 and a 52-week high of $7.03. The business has a 50 day simple moving average of $2.15 and a 200 day simple moving average of $2.84.

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 platform for consumers, retailers, and brand owner.