Citigroup Lowers Dada Nexus (NASDAQ:DADA) Price Target to $1.90

Dada Nexus (NASDAQ:DADA) had its target price trimmed by Citigroup from $2.00 to $1.90 in a report published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also weighed in on DADA. Daiwa Capital Markets began coverage on Dada Nexus in a report on Thursday, August 22nd. They set a “neutral” rating on the stock. Mizuho decreased their price objective on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, Daiwa America upgraded shares of Dada Nexus to a “hold” rating in a research note on Thursday, August 22nd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Dada Nexus has a consensus rating of “Hold” and a consensus target price of $2.70.

Dada Nexus Price Performance

Dada Nexus stock opened at $1.44 on Friday. The company’s 50-day moving average is $1.63 and its 200-day moving average is $1.53. The firm has a market capitalization of $374.11 million, a PE ratio of -1.30 and a beta of 1.39. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $4.12.

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 12.39% and a negative net margin of 20.95%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in 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 acquiring an additional 686,316 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Dada Nexus by 28.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock valued at $2,170,000 after purchasing an additional 380,100 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings 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 worth $779,000 after buying an additional 413,600 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Dada Nexus during the 1st quarter worth $28,000. Finally, Headlands Technologies LLC boosted its stake in Dada Nexus by 111.2% in the second quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock valued at $108,000 after buying an additional 45,192 shares in the last quarter. Institutional investors and hedge funds own 59.25% of the company’s stock.

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.