Dada Nexus Limited (NASDAQ:DADA) Receives $6.00 Average PT from Brokerages

Shares of Dada Nexus Limited (NASDAQ:DADA) have received a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $6.00.

A number of brokerages have issued reports on DADA. Daiwa Capital Markets upgraded Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 price objective on the stock in a research report on Tuesday, February 20th. New Street Research reiterated a “neutral” rating and issued a $2.00 price target (down from $15.00) on shares of Dada Nexus in a report on Wednesday, March 6th. Citigroup lowered Dada Nexus from a “buy” rating to a “sell” rating in a research note on Monday, January 8th. Finally, Mizuho dropped their price objective on Dada Nexus from $7.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, January 17th.

Dada Nexus Stock Performance

NASDAQ:DADA opened at $1.86 on Wednesday. The stock has a 50-day simple moving average of $2.15 and a two-hundred day simple moving average of $2.81. Dada Nexus has a 52-week low of $1.36 and a 52-week high of $7.03. The firm has a market capitalization of $487.34 million, a PE ratio of -1.42 and a beta of 1.50.

Dada Nexus (NASDAQ:DADA) last released its quarterly earnings results on Monday, March 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The company had revenue of $381.95 million for the quarter, compared to the consensus estimate of $436.80 million. Dada Nexus had a negative net margin of 22.62% and a negative return on equity of 14.06%. Equities analysts forecast that Dada Nexus will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dada Nexus

A number of large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its position in Dada Nexus by 222.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,891 shares of the company’s stock valued at $35,000 after purchasing an additional 5,447 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Dada Nexus during the 4th quarter valued at $41,000. Jump Financial LLC bought a new stake in Dada Nexus during the 4th quarter valued at $42,000. Citigroup Inc. raised its position in Dada Nexus by 69.5% during the 4th quarter. Citigroup Inc. now owns 7,756 shares of the company’s stock valued at $54,000 after purchasing an additional 3,180 shares in the last quarter. Finally, Ethic Inc. bought a new stake in Dada Nexus during the 4th quarter valued at $55,000. Hedge funds and other institutional investors 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 platform for consumers, retailers, and brand owner.