Brokerages Set Dada Nexus Limited (NASDAQ:DADA) Price Target at $3.35

Shares of Dada Nexus Limited (NASDAQ:DADA) have been assigned a consensus recommendation of “Hold” from the eight research firms that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $3.35.

Several equities analysts have recently issued reports on the company. Daiwa America upgraded Dada Nexus to a “hold” rating in a research note on Thursday, August 22nd. Citigroup upgraded Dada Nexus from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $1.00 to $1.50 in a research note on Wednesday, August 21st. Finally, Daiwa Capital Markets started coverage on Dada Nexus in a research note on Thursday, August 22nd. They issued a “neutral” rating for the company.

Dada Nexus Stock Performance

NASDAQ DADA opened at $1.85 on Wednesday. The stock has a fifty day simple moving average of $1.41 and a 200-day simple moving average of $1.59. Dada Nexus has a twelve month low of $1.04 and a twelve month high of $4.70. The stock has a market cap of $480.63 million, a PE ratio of -1.70 and a beta of 1.37.

Dada Nexus (NASDAQ:DADA) last announced its earnings results on Tuesday, August 20th. The company reported ($0.09) EPS for the quarter. Dada Nexus had a negative net margin of 19.81% and a negative return on equity of 10.94%. The firm had revenue of $324.54 million for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in Dada Nexus in the 1st quarter valued at $28,000. Natixis purchased a new position in Dada Nexus in the 1st quarter valued at $51,000. Headlands Technologies LLC grew its position in Dada Nexus by 615.5% in the 1st quarter. Headlands Technologies LLC now owns 40,643 shares of the company’s stock valued at $83,000 after buying an additional 34,963 shares during the last quarter. Fore Capital LLC purchased a new position in Dada Nexus in the 1st quarter valued at $92,000. Finally, EntryPoint Capital LLC grew its position in Dada Nexus by 69.6% in the 1st quarter. EntryPoint Capital LLC now owns 55,899 shares of the company’s stock valued at $115,000 after buying an additional 22,936 shares during the last quarter. Institutional investors and hedge funds own 59.25% of the company’s stock.

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.