Brokerages Set Dada Nexus Limited (NASDAQ:DADA) Target Price at $2.70

Shares of Dada Nexus Limited (NASDAQ:DADA) have been assigned an average rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat reports. Five equities research 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 brokerages that have updated their coverage on the stock in the last year is $2.70.

A number of brokerages have weighed in on DADA. Daiwa Capital Markets started coverage on shares of Dada Nexus in a research report on Thursday, August 22nd. They issued a “neutral” rating on the stock. Citigroup cut their price objective on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a report on Friday, November 15th. Mizuho reduced their price objective 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. Finally, Daiwa America upgraded Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd.

Dada Nexus Trading Up 2.1 %

DADA opened at $1.46 on Thursday. The company has a market cap of $379.31 million, a P/E ratio of -1.32 and a beta of 1.39. The company’s 50 day moving average is $1.67 and its 200-day moving average is $1.49. Dada Nexus has a 1-year low of $1.04 and a 1-year high of $3.67.

Institutional Trading of Dada Nexus

Institutional investors and hedge funds have recently bought and sold shares of the stock. 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 period. Renaissance Technologies LLC raised its position in shares of 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 acquiring an additional 380,100 shares during the last quarter. Marshall Wace LLP raised its position in shares of Dada Nexus by 7.5% during the second quarter. Marshall Wace LLP now owns 619,716 shares of the company’s stock worth $781,000 after acquiring an additional 43,359 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Dada Nexus by 202.3% in the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock worth $779,000 after acquiring an additional 413,600 shares during the period. Finally, Jane Street Group LLC boosted its holdings in Dada Nexus by 45.5% in the third quarter. Jane Street Group LLC now owns 235,666 shares of the company’s stock valued at $448,000 after acquiring an additional 73,720 shares during the last quarter. 59.25% of the stock is currently owned by institutional investors and hedge funds.

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.