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

Shares of Dada Nexus Limited (NASDAQ:DADA - Get Free Report) have been given an average rating of "Hold" by the six analysts that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $2.70.

DADA has been the topic of a number of research analyst reports. 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. Mizuho dropped their price target on Dada Nexus from $4.50 to $4.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 12th.

Dada Nexus Price Performance

Dada Nexus stock remained flat at $1.35 during mid-day trading on Monday. 1,054,187 shares of the company's stock were exchanged, compared to its average volume of 2,102,243. The company has a fifty day moving average price of $1.53 and a two-hundred day moving average price of $1.46. The firm has a market capitalization of $350.74 million, a P/E ratio of -1.22 and a beta of 1.32. Dada Nexus has a twelve month low of $1.04 and a twelve month high of $3.67.

Hedge Funds Weigh In On Dada Nexus

Several institutional investors and hedge funds have recently modified their holdings of DADA. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Dada Nexus in the 3rd quarter valued at $26,000. Wolverine Trading LLC acquired a new position in shares of Dada Nexus in the third quarter worth about $42,000. Quadrature Capital Ltd purchased a new stake in shares of Dada Nexus during the 3rd quarter worth about $67,000. SG Americas Securities LLC acquired a new stake in shares of Dada Nexus during the 3rd quarter valued at about $126,000. Finally, Headlands Technologies LLC increased its stake in shares of Dada Nexus by 111.2% in the 2nd quarter. Headlands Technologies LLC now owns 85,835 shares of the company's stock valued at $108,000 after purchasing an additional 45,192 shares in the last quarter. Institutional investors and hedge funds own 59.25% of the company's stock.

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 platforms for consumers, retailers, and brand owners.