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

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

Several analysts have recently commented on the stock. Citigroup decreased their price objective on shares of 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 decreased their price target on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th.

Institutional Trading of Dada Nexus

Several hedge funds have recently bought and sold shares of the stock. Harbour Capital Advisors LLC bought a new stake in shares of Dada Nexus in the fourth quarter worth about $159,000. JPMorgan Chase & Co. increased its stake 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 acquiring an additional 154,460 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Dada Nexus by 45.5% during the 3rd quarter. Jane Street Group LLC now owns 235,666 shares of the company’s stock worth $448,000 after acquiring an additional 73,720 shares in the last quarter. Wolverine Trading LLC bought a new position in shares of Dada Nexus during the 3rd quarter valued at approximately $42,000. Finally, Quadrature Capital Ltd bought a new position in shares of Dada Nexus during the 3rd quarter valued at approximately $67,000. Hedge funds and other institutional investors own 59.25% of the company’s stock.

Dada Nexus Trading Up 2.4 %

Dada Nexus stock opened at $1.29 on Friday. Dada Nexus has a 12-month low of $1.04 and a 12-month high of $2.83. The firm has a market capitalization of $335.14 million, a price-to-earnings ratio of -1.16 and a beta of 1.36. The firm has a 50 day moving average of $1.40 and a 200 day moving average of $1.44.

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.