Dada Nexus (NASDAQ:DADA) Shares Up 4.2%

Dada Nexus Limited (NASDAQ:DADA) traded up 4.2% during trading on Thursday . The company traded as high as $2.10 and last traded at $2.10. 222,323 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 3,313,637 shares. The stock had previously closed at $2.01.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Daiwa Capital Markets raised shares of Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 target price for the company in a research note on Tuesday, February 20th. Mizuho lowered their price objective on shares of Dada Nexus from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, January 17th. Citigroup lowered Dada Nexus from a “buy” rating to a “sell” rating in a research report on Monday, January 8th. Finally, New Street Research restated a “neutral” rating and set a $2.00 price target (down from $15.00) on shares of Dada Nexus in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.00.

Dada Nexus Price Performance

The firm has a market cap of $500.44 million, a PE ratio of -1.46 and a beta of 1.50. The company’s 50 day moving average price is $2.15 and its 200 day moving average price is $2.89.

Institutional Investors Weigh In On Dada Nexus

A number of hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its position in shares of Dada Nexus by 222.9% during the third quarter. Tower Research Capital LLC TRC now owns 7,891 shares of the company’s stock worth $35,000 after acquiring an additional 5,447 shares during the period. GSA Capital Partners LLP acquired a new position in Dada Nexus during the 4th quarter worth $41,000. Jump Financial LLC acquired a new position in Dada Nexus during the 4th quarter worth $42,000. Citigroup Inc. increased its holdings in Dada Nexus by 69.5% during the 4th quarter. Citigroup Inc. now owns 7,756 shares of the company’s stock worth $54,000 after purchasing an additional 3,180 shares during the period. Finally, Ethic Inc. acquired a new stake in Dada Nexus in the 4th quarter valued at about $55,000. 59.25% of the stock is currently owned by institutional investors and hedge funds.

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 platform for consumers, retailers, and brand owner.