Dada Nexus Limited (NASDAQ:DADA) Receives $2.70 Consensus Price Target from Analysts

Shares of Dada Nexus Limited (NASDAQ:DADA - Get Free Report) have been given an average recommendation of "Hold" by the six ratings firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $2.70.

DADA has been the topic of several recent analyst reports. Mizuho cut their price objective on shares of Dada Nexus from $4.50 to $4.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. Daiwa Capital Markets started coverage on shares of Dada Nexus in a research note on Thursday, August 22nd. They set a "neutral" rating on the stock. Daiwa America raised shares of Dada Nexus to a "hold" rating in a report on Thursday, August 22nd. Finally, Citigroup dropped their price objective on shares of Dada Nexus from $2.00 to $1.90 and set a "neutral" rating on the stock in a report on Friday, November 15th.

Dada Nexus Stock Performance

NASDAQ:DADA traded up $0.09 during mid-day trading on Thursday, hitting $1.43. 779,969 shares of the company's stock traded hands, compared to its average volume of 2,184,231. The company has a fifty day moving average of $1.66 and a 200 day moving average of $1.50. Dada Nexus has a twelve month low of $1.04 and a twelve month high of $3.72. The company has a market capitalization of $371.52 million, a P/E ratio of -1.29 and a beta of 1.39.

Hedge Funds Weigh In On Dada Nexus

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Dada Nexus by 25.0% in the 1st quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company's stock valued at $7,027,000 after acquiring an additional 686,316 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Dada Nexus by 28.3% during the second quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company's stock worth $2,170,000 after purchasing an additional 380,100 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Dada Nexus by 202.3% during the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company's stock valued at $779,000 after purchasing an additional 413,600 shares during the period. Virtu Financial LLC purchased a new stake in Dada Nexus in the first quarter valued at $28,000. Finally, Headlands Technologies LLC grew its position in Dada Nexus by 111.2% during the 2nd quarter. Headlands Technologies LLC now owns 85,835 shares of the company's stock worth $108,000 after purchasing an additional 45,192 shares during the period. 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 platforms for consumers, retailers, and brand owners.