Dada Nexus Limited (NASDAQ:DADA) Given Consensus Recommendation of “Hold” by Brokerages

Dada Nexus Limited (NASDAQ:DADA) has been assigned an average rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $3.12.

DADA has been the topic of several research reports. Daiwa America raised Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets initiated coverage on Dada Nexus in a research report on Thursday, August 22nd. They issued a “neutral” rating on the stock. Finally, Citigroup raised 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 report on Wednesday, August 21st.

Institutional Investors Weigh In On Dada Nexus

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Dada Nexus by 25.0% in the first quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company’s stock valued at $7,027,000 after buying an additional 686,316 shares during the period. Renaissance Technologies LLC lifted its stake in 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 purchasing an additional 380,100 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in 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 purchasing an additional 413,600 shares during the last quarter. Headlands Technologies LLC lifted its stake in 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 purchasing an additional 34,963 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Dada Nexus during the first quarter worth $28,000. 59.25% of the stock is currently owned by institutional investors.

Dada Nexus Price Performance

Shares of NASDAQ DADA opened at $1.67 on Friday. The business’s 50 day moving average price is $1.52 and its two-hundred day moving average price is $1.56. The company has a market cap of $433.87 million, a PE ratio of -1.53 and a beta of 1.37. Dada Nexus has a twelve month low of $1.04 and a twelve month high of $4.55.

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

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.