Dada Nexus (NASDAQ:DADA) Shares Gap Up to $2.05

Dada Nexus Limited (NASDAQ:DADAGet Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $2.05, but opened at $2.12. Dada Nexus shares last traded at $2.21, with a volume of 1,002,000 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on DADA. Daiwa Capital Markets raised 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 note on Tuesday, February 20th. Mizuho decreased their price objective on shares of Dada Nexus from $7.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, January 17th. Citigroup lowered shares of Dada Nexus from a “buy” rating to a “sell” rating in a report on Monday, January 8th. Finally, New Street Research restated a “neutral” rating and issued a $2.00 price target (down previously from $15.00) on shares of Dada Nexus in a report 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 stock presently has a consensus rating of “Hold” and an average price target of $6.00.

Get Our Latest Analysis on DADA

Dada Nexus Stock Performance

The firm’s 50 day moving average is $2.14 and its 200 day moving average is $3.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Franklin Resources Inc. raised its stake in shares of Dada Nexus by 8.7% during the 4th quarter. Franklin Resources Inc. now owns 12,663 shares of the company’s stock worth $88,000 after acquiring an additional 1,011 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Dada Nexus by 15.2% during the 1st quarter. Vontobel Holding Ltd. now owns 20,565 shares of the company’s stock worth $188,000 after acquiring an additional 2,710 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Dada Nexus by 4.0% during the 3rd quarter. Nuveen Asset Management LLC now owns 78,200 shares of the company’s stock worth $370,000 after acquiring an additional 3,000 shares in the last quarter. Van Berkom & Associates Inc. raised its stake in shares of Dada Nexus by 2.3% during the 3rd quarter. Van Berkom & Associates Inc. now owns 139,981 shares of the company’s stock worth $623,000 after acquiring an additional 3,100 shares in the last quarter. Finally, Citigroup Inc. grew its position 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 last quarter. Institutional investors own 59.25% of the company’s stock.

Dada Nexus Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Dada Nexus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dada Nexus and related companies with MarketBeat.com's FREE daily email newsletter.