Brokerages Set Dada Nexus Limited (NASDAQ:DADA) Price Target at $3.12

Dada Nexus Limited (NASDAQ:DADA - Get Free Report) has earned an average rating of "Hold" from the seven research firms that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $3.12.

Several research firms have recently commented on DADA. Citigroup upgraded shares of Dada Nexus from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $1.00 to $1.50 in a research note on Wednesday, August 21st. Daiwa America upgraded Dada Nexus to a "hold" rating in a research note on Thursday, August 22nd. Finally, Daiwa Capital Markets began coverage on Dada Nexus in a research note on Thursday, August 22nd. They issued a "neutral" rating for the company.

Dada Nexus Price Performance

Dada Nexus stock remained flat at $1.67 during midday trading on Friday. The company's stock had a trading volume of 642,312 shares, compared to its average volume of 2,123,052. The firm has a market capitalization of $433.87 million, a PE ratio of -1.53 and a beta of 1.39. The stock's 50-day simple moving average is $1.52 and its 200-day simple moving average is $1.56. Dada Nexus has a 52 week low of $1.04 and a 52 week high of $4.55.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in shares of Dada Nexus during the 1st quarter valued at about $28,000. EntryPoint Capital LLC increased its position in shares of Dada Nexus by 69.6% in the first quarter. EntryPoint Capital LLC now owns 55,899 shares of the company's stock valued at $115,000 after buying an additional 22,936 shares in the last quarter. Natixis acquired a new position in shares of Dada Nexus during the 1st quarter worth approximately $51,000. Headlands Technologies LLC lifted its position in shares of Dada Nexus by 615.5% during the 1st quarter. Headlands Technologies LLC now owns 40,643 shares of the company's stock valued at $83,000 after buying an additional 34,963 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in Dada Nexus by 7.5% in the 2nd quarter. Marshall Wace LLP now owns 619,716 shares of the company's stock valued at $781,000 after acquiring an additional 43,359 shares during the period. 59.25% of the stock is currently owned by hedge funds and other institutional investors.

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.