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

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

DADA has been the topic of a number of recent research reports. Mizuho reduced their target price on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Citigroup cut their price objective on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a report on Friday, November 15th. Daiwa America upgraded Dada Nexus to a “hold” rating in a research note on Thursday, August 22nd. Finally, Daiwa Capital Markets started coverage on Dada Nexus in a research report on Thursday, August 22nd. They set a “neutral” rating on the stock.

Dada Nexus Trading Up 2.1 %

Shares of Dada Nexus stock opened at $1.46 on Thursday. The company has a fifty day moving average price of $1.67 and a 200 day moving average price of $1.49. Dada Nexus has a twelve month low of $1.04 and a twelve month high of $3.67. The stock has a market cap of $379.31 million, a price-to-earnings ratio of -1.32 and a beta of 1.39.

Hedge Funds Weigh In On Dada Nexus

A number of hedge funds have recently bought and sold shares of DADA. Vanguard Group Inc. lifted its holdings in Dada Nexus by 25.0% during the 1st quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company’s stock worth $7,027,000 after buying an additional 686,316 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Dada Nexus by 202.3% during 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 in the last quarter. 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. Dimensional Fund Advisors LP acquired a new position in Dada Nexus in the second quarter worth $230,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Dada Nexus during the second quarter valued at $136,000. 59.25% of the stock is currently owned by institutional investors and hedge funds.

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.