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

Shares of Dada Nexus Limited (NASDAQ:DADA) have been given a consensus rating of “Hold” by the six ratings firms that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $2.70.

A number of brokerages recently commented on DADA. Mizuho dropped their target price 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. Citigroup dropped their price objective on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a report on Friday, November 15th.

Hedge Funds Weigh In On Dada Nexus

Institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Dada Nexus in the 3rd quarter valued at about $26,000. Wolverine Trading LLC acquired a new stake in Dada Nexus in the third quarter valued at approximately $42,000. Quadrature Capital Ltd purchased a new stake in shares of Dada Nexus in the third quarter valued at approximately $67,000. SG Americas Securities LLC purchased a new stake in shares of Dada Nexus in the third quarter valued at approximately $126,000. Finally, Headlands Technologies LLC raised its stake in shares of Dada Nexus by 111.2% during the 2nd quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock worth $108,000 after buying an additional 45,192 shares during the period. 59.25% of the stock is owned by hedge funds and other institutional investors.

Dada Nexus Stock Performance

Shares of DADA stock opened at $1.35 on Monday. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $3.67. The firm has a market capitalization of $350.74 million, a PE ratio of -1.22 and a beta of 1.32. The stock’s 50-day simple moving average is $1.53 and its 200-day simple moving average is $1.46.

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.