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

Shares of Dada Nexus Limited (NASDAQ:DADA) have received a consensus rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $2.70.

A number of brokerages recently weighed in on DADA. Citigroup dropped 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 reduced their price target on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th.

Dada Nexus Stock Down 0.7 %

Dada Nexus stock opened at $1.36 on Monday. The firm has a market cap of $353.33 million, a P/E ratio of -1.23 and a beta of 1.32. The business has a fifty day moving average of $1.51 and a two-hundred day moving average of $1.45. Dada Nexus has a twelve month low of $1.04 and a twelve month high of $3.67.

Institutional Trading of Dada Nexus

Several large investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its holdings in shares of Dada Nexus by 202.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock valued at $779,000 after acquiring an additional 413,600 shares during the last quarter. Renaissance Technologies LLC raised its position in Dada Nexus by 28.3% during the second quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock valued at $2,170,000 after acquiring an additional 380,100 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in Dada Nexus in the second quarter valued at approximately $230,000. JPMorgan Chase & Co. boosted its position in Dada Nexus by 219.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 224,866 shares of the company’s stock worth $427,000 after purchasing an additional 154,460 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Dada Nexus during the 2nd quarter worth approximately $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.