Dada Nexus Limited (NASDAQ:DADA) Receives $2.70 Average Target Price from Analysts

Dada Nexus Limited (NASDAQ:DADA) has received an average recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $2.70.

Several research firms recently commented on DADA. Mizuho dropped their target price 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 dropped their price objective on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a research note on Friday, November 15th.

Institutional Trading of Dada Nexus

A number of institutional investors and hedge funds have recently made changes to their positions in DADA. JPMorgan Chase & Co. lifted its position in shares of Dada Nexus by 219.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 224,866 shares of the company’s stock valued at $427,000 after buying an additional 154,460 shares in the last quarter. Jane Street Group LLC raised its position in Dada Nexus by 45.5% during the third quarter. Jane Street Group LLC now owns 235,666 shares of the company’s stock worth $448,000 after acquiring an additional 73,720 shares during the period. Dimensional Fund Advisors LP purchased a new position in Dada Nexus during the second quarter valued at $230,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Dada Nexus in the third quarter valued at about $26,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Dada Nexus during the third quarter worth about $126,000. 59.25% of the stock is currently owned by hedge funds and other institutional investors.

Dada Nexus Stock Performance

Shares of DADA opened at $1.88 on Tuesday. The business’s 50-day moving average is $1.49 and its two-hundred day moving average is $1.48. The company has a market capitalization of $488.42 million, a P/E ratio of -1.69 and a beta of 1.41. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $2.83.

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.