Analysts Set Dada Nexus Limited (NASDAQ:DADA) Target Price at $2.70

Dada Nexus Limited (NASDAQ:DADA - Get Free Report) has been given a consensus recommendation of "Hold" by the six analysts that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $2.70.

A number of research analysts have weighed in on DADA shares. Citigroup reduced their target price on Dada Nexus from $2.00 to $1.90 and set a "neutral" rating on the stock in a report on Friday, November 15th. Daiwa America upgraded Dada Nexus to a "hold" rating in a report on Thursday, August 22nd. Daiwa Capital Markets started coverage on shares of Dada Nexus in a research report on Thursday, August 22nd. They issued a "neutral" rating on the stock. Finally, Mizuho lowered their price target on shares of Dada Nexus from $4.50 to $4.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th.

Hedge Funds Weigh In On Dada Nexus

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Dada Nexus by 25.0% in the 1st quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company's stock worth $7,027,000 after buying an additional 686,316 shares in the last quarter. Renaissance Technologies LLC grew its position 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 in the last quarter. Canada Pension Plan Investment Board raised its stake in Dada Nexus by 202.3% during the 2nd 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 position in Dada Nexus in the 1st quarter worth approximately $28,000. Finally, Headlands Technologies LLC lifted its holdings in Dada Nexus by 111.2% in 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 in the last quarter. 59.25% of the stock is currently owned by hedge funds and other institutional investors.

Dada Nexus Price Performance

NASDAQ:DADA traded up $0.09 during trading hours on Thursday, hitting $1.43. The company had a trading volume of 779,969 shares, compared to its average volume of 2,184,231. The stock has a 50-day moving average price of $1.66 and a 200 day moving average price of $1.50. The company has a market capitalization of $371.52 million, a PE ratio of -1.29 and a beta of 1.39. Dada Nexus has a 52 week low of $1.04 and a 52 week high of $3.72.

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.