Dada Nexus Limited (NASDAQ:DADA) Given Consensus Recommendation of “Hold” by Brokerages

Dada Nexus Limited (NASDAQ:DADA) has earned an average recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Five 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 analysts that have updated their coverage on the stock in the last year is $2.70.

A number of equities research analysts recently commented on the stock. Citigroup reduced their price objective on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a research report on Friday, November 15th. Daiwa Capital Markets began coverage on Dada Nexus in a report on Thursday, August 22nd. They issued a “neutral” rating for the company. Daiwa America raised Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. Finally, Mizuho reduced their target price on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th.

Dada Nexus Stock Performance

DADA stock opened at $1.43 on Thursday. The stock has a market capitalization of $371.51 million, a PE ratio of -1.29 and a beta of 1.39. The company has a fifty day moving average of $1.66 and a 200-day moving average of $1.50. Dada Nexus has a one year low of $1.04 and a one year high of $3.72.

Institutional Trading of Dada Nexus

A number of institutional investors have recently bought and sold shares of the company. Jane Street Group LLC increased its position in shares of 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 buying an additional 73,720 shares in the last quarter. Wolverine Trading LLC acquired a new stake in Dada Nexus in the 3rd quarter valued at about $42,000. Quadrature Capital Ltd purchased a new position in Dada Nexus during the 3rd quarter valued at about $67,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Dada Nexus during the third quarter worth about $26,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Dada Nexus in the third quarter valued at about $126,000. 59.25% of the stock is currently owned by hedge funds and other institutional investors.

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.