Dada Nexus Limited (NASDAQ:DADA) Receives $2.70 Average PT from Brokerages

Dada Nexus Limited (NASDAQ:DADA) has been given an average rating of “Hold” by the six analysts that are presently covering the firm, MarketBeat Ratings reports. Five investment 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 research analysts recently commented on DADA shares. Mizuho decreased their price objective on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Citigroup decreased their price target on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a research note on Friday, November 15th.

Dada Nexus Price Performance

NASDAQ:DADA opened at $1.36 on Monday. The company’s 50-day moving average is $1.51 and its two-hundred day moving average is $1.45. Dada Nexus has a 1-year low of $1.04 and a 1-year high of $3.67. The firm has a market capitalization of $353.33 million, a price-to-earnings ratio of -1.23 and a beta of 1.32.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board raised its holdings in shares of Dada Nexus by 202.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock valued at $779,000 after buying an additional 413,600 shares during the period. Renaissance Technologies LLC increased its stake in Dada Nexus by 28.3% during the second quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock worth $2,170,000 after purchasing an additional 380,100 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Dada Nexus during the second quarter worth about $230,000. JPMorgan Chase & Co. lifted its position in shares of Dada Nexus by 219.4% during the third quarter. JPMorgan Chase & Co. now owns 224,866 shares of the company’s stock worth $427,000 after purchasing an additional 154,460 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Dada Nexus in the second quarter valued at approximately $136,000. 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 platforms for consumers, retailers, and brand owners.