Dada Nexus Limited (NASDAQ:DADA) Receives $2.70 Consensus Target Price from Brokerages

Dada Nexus Limited (NASDAQ:DADA) has been given an average rating of “Hold” by the six analysts that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $2.70.

A number of research analysts have recently weighed in on the company. Citigroup lowered their price objective on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Mizuho lowered their price target on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th.

Dada Nexus Stock Performance

NASDAQ DADA opened at $1.36 on Friday. The business’s fifty day moving average is $1.37 and its 200 day moving average is $1.43. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $2.83. The company has a market capitalization of $353.33 million, a PE ratio of -1.23 and a beta of 1.36.

Institutional Trading of Dada Nexus

Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP bought a new position in Dada Nexus in the 2nd quarter worth approximately $230,000. Renaissance Technologies LLC lifted its holdings in shares of Dada Nexus by 28.3% in the second quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock worth $2,170,000 after buying an additional 380,100 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Dada Nexus by 202.3% during the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock worth $779,000 after acquiring an additional 413,600 shares during the last quarter. Marshall Wace LLP grew its stake in Dada Nexus by 7.5% during the second 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 in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Dada Nexus in the 2nd quarter valued at $136,000. Hedge funds and other institutional investors own 59.25% of the company’s stock.

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.