Dada Nexus Limited (NASDAQ:DADA) Receives Average Rating of “Hold” from Brokerages

by · The Markets Daily

Shares of Dada Nexus Limited (NASDAQ:DADA – Get Free Report) have earned a consensus recommendation of “Hold” from the eight brokerages that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $3.35.

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

Get Our Latest Analysis on DADA

Dada Nexus Trading Down 4.7 %

DADA stock opened at $1.23 on Friday. The firm has a 50 day moving average of $1.26 and a 200-day moving average of $1.66. Dada Nexus has a 12 month low of $1.04 and a 12 month high of $4.98. The firm has a market capitalization of $325.38 million, a P/E ratio of -0.96 and a beta of 1.33.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake 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 worth $7,027,000 after acquiring an additional 686,316 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Dada Nexus by 28.3% during the second quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock worth $2,170,000 after acquiring an additional 380,100 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Dada Nexus by 7.5% during the second 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 raised its stake 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 in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Dada Nexus during the second quarter worth approximately $230,000. 59.25% of the stock is owned by hedge funds and other institutional investors.

About Dada Nexus

(Get Free Report

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.

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