Dada Nexus (NASDAQ:DADA) Shares Gap Up to $1.91

Dada Nexus Limited (NASDAQ:DADA)’s share price gapped up prior to trading on Monday . The stock had previously closed at $1.91, but opened at $1.97. Dada Nexus shares last traded at $1.94, with a volume of 173,358 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Mizuho cut their target price on shares of Dada Nexus from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, January 17th. New Street Research restated a “neutral” rating and issued a $2.00 target price (down previously from $15.00) on shares of Dada Nexus in a research report on Wednesday, March 6th. Citigroup cut shares of Dada Nexus from a “buy” rating to a “sell” rating in a research report on Monday, January 8th. Finally, Daiwa Capital Markets upgraded shares of Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 target price for the company in a research report on Tuesday, February 20th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Dada Nexus Stock Up 0.5 %

The firm has a market capitalization of $497.82 million, a price-to-earnings ratio of -1.45 and a beta of 1.50. The firm’s 50 day moving average is $2.15 and its 200 day moving average is $2.84.

Institutional Trading of Dada Nexus

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 129,070 shares during the last quarter. TT International Asset Management LTD lifted its position in shares of Dada Nexus by 33.9% in 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 acquiring an additional 852,790 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Dada Nexus in the 4th quarter valued at approximately $41,000. OLD Mission Capital LLC purchased a new stake in shares of Dada Nexus in the 4th quarter valued at approximately $182,000. Finally, Garden State Investment Advisory Services LLC purchased a new stake in shares of Dada Nexus in the 4th quarter valued at approximately $443,000. 59.25% of the stock is owned by institutional investors and hedge funds.

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.