Dada Nexus Limited (NASDAQ:DADA) Receives Consensus Recommendation of “Hold” from Analysts

Dada Nexus Limited (NASDAQ:DADA) has been given an average recommendation of “Hold” by the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $2.70.

A number of brokerages have issued reports on DADA. Citigroup reduced 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 note on Friday, November 15th. Daiwa Capital Markets started coverage on shares of Dada Nexus in a research report on Thursday, August 22nd. They set a “neutral” rating on the stock. Mizuho decreased their price target on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, Daiwa America upgraded Dada Nexus to a “hold” rating in a report on Thursday, August 22nd.

Institutional Trading of Dada Nexus

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 686,316 shares in the last quarter. Virtu Financial LLC bought a new position in Dada Nexus in the first quarter valued at $28,000. Headlands Technologies LLC grew its position 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 purchasing an additional 45,192 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Dada Nexus in the 2nd quarter valued at $230,000. Finally, Renaissance Technologies LLC lifted its position in Dada Nexus by 28.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock worth $2,170,000 after buying an additional 380,100 shares in the last quarter. Institutional investors and hedge funds own 59.25% of the company’s stock.

Dada Nexus Trading Up 6.7 %

Dada Nexus stock opened at $1.43 on Thursday. The company has a market cap of $371.51 million, a PE ratio of -1.29 and a beta of 1.39. Dada Nexus has a 1 year low of $1.04 and a 1 year high of $3.72. The company’s 50-day moving average is $1.66 and its two-hundred day moving average is $1.50.

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.