Dada Nexus (NASDAQ:DADA) Shares Gap Up to $1.91

Dada Nexus Limited (NASDAQ:DADA)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $1.91, but opened at $1.97. Dada Nexus shares last traded at $1.94, with a volume of 173,358 shares trading hands.

Analyst Upgrades and Downgrades

DADA has been the topic of a number of recent analyst reports. New Street Research restated a “neutral” rating and issued a $2.00 price target (down from $15.00) on shares of Dada Nexus in a research report on Wednesday, March 6th. Mizuho reduced their price target on shares of Dada Nexus from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, January 17th. Citigroup lowered shares of Dada Nexus from a “buy” rating to a “sell” rating in a research report on Monday, January 8th. Finally, Daiwa Capital Markets upgraded shares of Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 price target on the stock in a research report on Tuesday, February 20th. 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 to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Dada Nexus Price Performance

The company has a market capitalization of $497.82 million, a P/E ratio of -1.45 and a beta of 1.50. The stock’s 50 day simple moving average is $2.15 and its two-hundred day simple moving average is $2.84.

Institutional Investors Weigh In On Dada Nexus

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its stake in shares of Dada Nexus by 170.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 21,338 shares of the company’s stock worth $71,000 after buying an additional 13,447 shares during the last quarter. Kaizen Capital Partners Ltd raised its stake in shares of Dada Nexus by 6.9% during the third quarter. Kaizen Capital Partners Ltd now owns 12,281,623 shares of the company’s stock worth $54,653,000 after buying an additional 788,425 shares during the last quarter. Aviva PLC raised its stake in shares of Dada Nexus by 56.0% during the third quarter. Aviva PLC now owns 1,443,060 shares of the company’s stock worth $6,422,000 after buying an additional 518,113 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Dada Nexus by 135.5% during the third quarter. Federated Hermes Inc. now owns 1,203,059 shares of the company’s stock worth $5,354,000 after buying an additional 692,120 shares during the last quarter. Finally, Lansdowne Partners UK LLP bought a new stake in shares of Dada Nexus during the third quarter worth approximately $2,920,000. 59.25% of the stock is owned by 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 platform for consumers, retailers, and brand owner.