Dada Nexus Limited (NASDAQ:DADA - Get Free Report) has received an average rating of "Hold" from the six brokerages that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $2.70.
A number of brokerages recently issued reports on DADA. Mizuho decreased their target price on Dada Nexus from $4.50 to $4.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. Citigroup reduced their price target on Dada Nexus from $2.00 to $1.90 and set a "neutral" rating for the company in a report on Friday, November 15th.
Read Our Latest Report on DADA
Dada Nexus Stock Up 1.6 %
NASDAQ DADA traded up $0.03 during trading hours on Tuesday, hitting $1.88. 1,754,751 shares of the company were exchanged, compared to its average volume of 2,696,135. Dada Nexus has a 52-week low of $1.04 and a 52-week high of $2.83. The firm has a market cap of $488.42 million, a price-to-earnings ratio of -1.69 and a beta of 1.41. The company has a 50 day moving average of $1.49 and a two-hundred day moving average of $1.47.
Hedge Funds Weigh In On Dada Nexus
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DADA. JPMorgan Chase & Co. raised its holdings in shares of Dada Nexus by 219.4% during the third quarter. JPMorgan Chase & Co. now owns 224,866 shares of the company's stock worth $427,000 after acquiring an additional 154,460 shares in the last quarter. Jane Street Group LLC raised its holdings in Dada Nexus by 45.5% during the third quarter. Jane Street Group LLC now owns 235,666 shares of the company's stock valued at $448,000 after buying an additional 73,720 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in Dada Nexus during the second quarter valued at about $230,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Dada Nexus during the third quarter valued at about $26,000. Finally, SG Americas Securities LLC bought a new position in Dada Nexus during the third quarter valued at about $126,000. 59.25% of the stock is owned by institutional investors.
About Dada Nexus
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Get Free ReportDada 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.
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