Dada Nexus (NASDAQ:DADA) Trading 3.9% Higher

Dada Nexus Limited (NASDAQ:DADA)’s stock price was up 3.9% during trading on Tuesday . The company traded as high as $2.03 and last traded at $1.98. Approximately 1,077,665 shares were traded during trading, a decline of 52% from the average daily volume of 2,238,650 shares. The stock had previously closed at $1.90.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DADA shares. Citigroup raised shares of Dada Nexus from a “sell” rating to a “neutral” rating and upped their target price for the company from $1.00 to $1.50 in a research note on Wednesday, August 21st. Daiwa Capital Markets started coverage on Dada Nexus in a research note on Thursday, August 22nd. They issued a “neutral” rating on the stock. Finally, Daiwa America upgraded Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.35.

Dada Nexus Price Performance

The stock has a 50 day moving average price of $1.27 and a two-hundred day moving average price of $1.61. The company has a market capitalization of $539.65 million, a price-to-earnings ratio of -1.63 and a beta of 1.33.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Fore Capital LLC acquired a new position in Dada Nexus in the first quarter valued at about $92,000. Headlands Technologies LLC increased its position in shares of Dada Nexus by 615.5% during the first quarter. Headlands Technologies LLC now owns 40,643 shares of the company’s stock worth $83,000 after acquiring an additional 34,963 shares in the last quarter. Vanguard Group Inc. increased its position 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. Natixis acquired a new stake in shares of Dada Nexus during the first quarter worth $51,000. Finally, EntryPoint Capital LLC lifted its position in Dada Nexus by 69.6% in the 1st quarter. EntryPoint Capital LLC now owns 55,899 shares of the company’s stock valued at $115,000 after acquiring an additional 22,936 shares in the last quarter. Institutional investors and hedge funds own 59.25% of the company’s stock.

About Dada Nexus

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.