Dada Nexus Limited (NASDAQ:DADA) Receives $6.00 Average PT from Analysts

Shares of Dada Nexus Limited (NASDAQ:DADA) have earned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $6.00.

Several research firms have commented on DADA. New Street Research reiterated a “neutral” rating and issued a $2.00 price objective (down previously from $15.00) on shares of Dada Nexus in a research note on Wednesday, March 6th. Citigroup lowered shares of Dada Nexus from a “buy” rating to a “sell” rating in a research note on Monday, January 8th. Mizuho reduced their target price on shares of Dada Nexus from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, January 17th. Finally, Daiwa Capital Markets raised shares of Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 target price for the company in a research report on Tuesday, February 20th.

Dada Nexus Stock Performance

NASDAQ:DADA opened at $2.10 on Friday. The firm has a market cap of $550.22 million, a price-to-earnings ratio of -1.60 and a beta of 1.51. Dada Nexus has a 52 week low of $1.36 and a 52 week high of $8.92. The firm has a 50-day moving average price of $2.13 and a two-hundred day moving average price of $3.08.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its position in Dada Nexus by 222.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,891 shares of the company’s stock worth $35,000 after purchasing an additional 5,447 shares during the period. GSA Capital Partners LLP bought a new stake in Dada Nexus during the fourth quarter worth about $41,000. Jump Financial LLC purchased a new position in Dada Nexus in the fourth quarter worth about $42,000. Citigroup Inc. raised its holdings in Dada Nexus by 69.5% in the fourth quarter. Citigroup Inc. now owns 7,756 shares of the company’s stock worth $54,000 after buying an additional 3,180 shares during the last quarter. Finally, Ethic Inc. purchased a new position in Dada Nexus in the fourth quarter worth about $55,000. 59.25% of the stock is owned by institutional investors.

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 platform for consumers, retailers, and brand owner.