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

Dada Nexus Limited (NASDAQ:DADA) has been given an average rating of “Hold” by the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.00.

Several equities research analysts have recently weighed in on DADA shares. 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. 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 report on Tuesday, February 20th. Mizuho reduced their price objective on Dada Nexus from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, January 17th. Finally, Citigroup downgraded Dada Nexus from a “buy” rating to a “sell” rating in a report on Monday, January 8th.

Institutional Trading of Dada Nexus

A number of institutional investors have recently made changes to their positions in DADA. Kaizen Capital Partners Ltd lifted its position in Dada Nexus by 6.9% during the 3rd quarter. Kaizen Capital Partners Ltd now owns 12,281,623 shares of the company’s stock worth $54,653,000 after acquiring an additional 788,425 shares during the period. Baillie Gifford & Co. lifted its position in Dada Nexus by 1.0% during the 3rd quarter. Baillie Gifford & Co. now owns 7,489,745 shares of the company’s stock worth $33,329,000 after acquiring an additional 75,734 shares during the period. TT International Asset Management LTD lifted its position in Dada Nexus by 33.9% during the 4th quarter. TT International Asset Management LTD now owns 3,367,558 shares of the company’s stock worth $11,180,000 after acquiring an additional 852,790 shares during the period. Vanguard Group Inc. lifted its position in Dada Nexus by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 2,741,483 shares of the company’s stock worth $9,102,000 after acquiring an additional 129,070 shares during the period. Finally, BlackRock Inc. lifted its position in Dada Nexus by 1.5% during the 1st quarter. BlackRock Inc. now owns 2,317,587 shares of the company’s stock worth $21,160,000 after acquiring an additional 33,925 shares during the period. Institutional investors and hedge funds own 59.25% of the company’s stock.

Dada Nexus Stock Performance

Shares of NASDAQ DADA opened at $1.90 on Wednesday. The business’s 50 day moving average price is $2.15 and its 200-day moving average price is $2.84. Dada Nexus has a fifty-two week low of $1.36 and a fifty-two week high of $7.03. The company has a market cap of $497.82 million, a price-to-earnings ratio of -1.45 and a beta of 1.50.

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.