Dada Nexus Limited (NASDAQ:DADA) Receives $2.70 Consensus PT from Analysts

Dada Nexus Limited (NASDAQ:DADA) has received a consensus rating of “Hold” from the six brokerages that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $2.70.

Several brokerages have recently issued reports on DADA. Mizuho decreased their price objective on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Citigroup decreased their price target on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a research note on Friday, November 15th.

Dada Nexus Trading Down 0.7 %

NASDAQ:DADA opened at $1.36 on Monday. Dada Nexus has a 12-month low of $1.04 and a 12-month high of $3.67. The firm has a market cap of $353.33 million, a PE ratio of -1.23 and a beta of 1.32. The stock has a fifty day moving average price of $1.51 and a 200 day moving average price of $1.45.

Institutional Trading of Dada Nexus

Several institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its stake in Dada Nexus by 28.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock worth $2,170,000 after acquiring an additional 380,100 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Dada Nexus by 202.3% during the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock worth $779,000 after purchasing an additional 413,600 shares in the last quarter. Headlands Technologies LLC lifted its holdings in shares of Dada Nexus by 111.2% in the 2nd quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock valued at $108,000 after purchasing an additional 45,192 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Dada Nexus in the 2nd quarter valued at about $230,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Dada Nexus during the 3rd quarter worth approximately $26,000. Hedge funds and other institutional investors own 59.25% of the company’s stock.

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 platforms for consumers, retailers, and brand owners.