Dada Nexus Limited (NASDAQ:DADA) Receives $3.35 Average Target Price from Analysts

Shares of Dada Nexus Limited (NASDAQ:DADA) have received an average rating of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $3.35.

A number of research analysts have commented on the stock. Daiwa Capital Markets began coverage on shares of Dada Nexus in a research report on Thursday, August 22nd. They set a “neutral” rating on the stock. Daiwa America raised shares of Dada Nexus to a “hold” rating in a research note on Thursday, August 22nd. Finally, Citigroup raised Dada Nexus from a “sell” rating to a “neutral” rating and increased their target price for the company from $1.00 to $1.50 in a research report on Wednesday, August 21st.

Hedge Funds Weigh In On Dada Nexus

Large investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in Dada Nexus during the 1st quarter worth $28,000. Jump Financial LLC acquired a new position in shares of Dada Nexus during the fourth quarter valued at about $42,000. Natixis purchased a new position in shares of Dada Nexus in the 1st quarter valued at approximately $51,000. Headlands Technologies LLC boosted its stake in Dada Nexus by 615.5% in the 1st quarter. Headlands Technologies LLC now owns 40,643 shares of the company’s stock worth $83,000 after purchasing an additional 34,963 shares in the last quarter. Finally, Fore Capital LLC acquired a new stake in Dada Nexus in the 1st quarter worth approximately $92,000. 59.25% of the stock is owned by institutional investors and hedge funds.

Dada Nexus Stock Performance

Shares of NASDAQ DADA opened at $1.18 on Friday. Dada Nexus has a 52-week low of $1.04 and a 52-week high of $4.98. The firm has a market capitalization of $312.15 million, a price-to-earnings ratio of -0.92 and a beta of 1.33. The stock has a 50 day moving average price of $1.25 and a 200 day moving average price of $1.66.

Dada Nexus (NASDAQ:DADA) last issued its earnings results on Tuesday, August 20th. The company reported ($0.09) earnings per share for the quarter. The firm had revenue of $324.54 million during the quarter. Dada Nexus had a negative return on equity of 10.94% and a negative net margin of 19.81%.

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.