Mizuho Lowers Dada Nexus (NASDAQ:DADA) Price Target to $4.00

Dada Nexus (NASDAQ:DADA - Get Free Report) had its target price dropped by stock analysts at Mizuho from $4.50 to $4.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Mizuho's price objective indicates a potential upside of 157.23% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. Citigroup upgraded shares of Dada Nexus from a "sell" rating to a "neutral" rating and lifted their price target for the company from $1.00 to $1.50 in a research report on Wednesday, August 21st. Daiwa America raised shares of Dada Nexus to a "hold" rating in a report on Thursday, August 22nd. Finally, Daiwa Capital Markets began coverage on shares of Dada Nexus in a research note on Thursday, August 22nd. They issued a "neutral" rating on the stock. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Dada Nexus has a consensus rating of "Hold" and a consensus target price of $2.95.

Dada Nexus Price Performance

Dada Nexus stock traded down $0.15 during mid-day trading on Tuesday, hitting $1.56. 1,749,504 shares of the company's stock traded hands, compared to its average volume of 2,236,473. The stock has a market cap of $403.99 million, a price-to-earnings ratio of -1.56 and a beta of 1.39. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $4.55. The firm has a 50 day simple moving average of $1.59 and a two-hundred day simple moving average of $1.55.

Dada Nexus (NASDAQ:DADA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 20th. The company reported ($0.09) EPS for the quarter. The firm had revenue of $324.54 million for the quarter. Dada Nexus had a negative net margin of 19.81% and a negative return on equity of 10.94%.

Hedge Funds Weigh In On Dada Nexus

A number of institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Dada Nexus during the third quarter worth about $126,000. Susquehanna Fundamental Investments LLC acquired a new position in Dada Nexus during the 2nd quarter worth $136,000. Marshall Wace LLP grew its holdings in 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. Canada Pension Plan Investment Board grew 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 in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Dada Nexus by 28.3% in the 2nd 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. 59.25% of the stock is owned by institutional investors.

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.