Dada Nexus (NASDAQ:DADA) Shares Gap Up - What's Next?

Dada Nexus Limited (NASDAQ:DADA - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $2.26, but opened at $2.35. Dada Nexus shares last traded at $2.38, with a volume of 923,667 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup raised shares of Dada Nexus from a "sell" rating to a "neutral" rating and raised their price target for the stock 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. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Dada Nexus has an average rating of "Hold" and a consensus target price of $3.35.

Dada Nexus Stock Up 10.2 %

The stock has a market cap of $658.69 million, a P/E ratio of -1.79 and a beta of 1.37. The firm's 50 day simple moving average is $1.33 and its two-hundred day simple moving average is $1.60.

Dada Nexus (NASDAQ:DADA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.09) EPS for the quarter. The business 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 Investors Weigh In On Dada Nexus

Several large investors have recently added to or reduced their stakes in DADA. Vanguard Group Inc. boosted its holdings in shares of Dada Nexus by 25.0% during the first quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company's stock valued at $7,027,000 after acquiring an additional 686,316 shares during the period. Renaissance Technologies LLC grew its position in 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. Marshall Wace LLP increased its stake in shares of Dada Nexus by 7.5% in the second quarter. Marshall Wace LLP now owns 619,716 shares of the company's stock valued at $781,000 after purchasing an additional 43,359 shares during the period. Canada Pension Plan Investment Board increased its stake 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 valued at $779,000 after purchasing an additional 413,600 shares during the period. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Dada Nexus during the second quarter valued at approximately $230,000. 59.25% of the stock is owned by institutional investors and hedge funds.

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.