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

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

Several analysts have recently commented on DADA shares. Mizuho decreased their price objective on Dada Nexus from $4.50 to $4.00 and set an "outperform" rating for the company in a report on Tuesday, November 12th. Citigroup lowered their price target on Dada Nexus from $2.00 to $1.90 and set a "neutral" rating for the company in a research report on Friday, November 15th.

Institutional Investors Weigh In On Dada Nexus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP acquired a new position in shares of Dada Nexus in the 2nd quarter valued at $230,000. Renaissance Technologies LLC increased its holdings in Dada Nexus by 28.3% in the second quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company's stock valued at $2,170,000 after buying an additional 380,100 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Dada Nexus by 202.3% in the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company's stock worth $779,000 after acquiring an additional 413,600 shares during the period. Marshall Wace LLP boosted its stake in shares of Dada Nexus by 7.5% during the 2nd quarter. Marshall Wace LLP now owns 619,716 shares of the company's stock worth $781,000 after acquiring an additional 43,359 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Dada Nexus during the 2nd quarter valued at about $136,000. 59.25% of the stock is owned by institutional investors and hedge funds.

Dada Nexus Price Performance

Dada Nexus stock traded up $0.04 during trading hours on Friday, reaching $1.33. The stock had a trading volume of 1,177,703 shares, compared to its average volume of 990,391. Dada Nexus has a 52 week low of $1.04 and a 52 week high of $2.83. The business's 50 day moving average price is $1.39 and its 200-day moving average price is $1.44. The company has a market cap of $345.53 million, a price-to-earnings ratio of -1.20 and a beta of 1.36.

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.