Dada Nexus (NASDAQ:DADA) Coverage Initiated at The Goldman Sachs Group

Analysts at The Goldman Sachs Group assumed coverage on shares of Dada Nexus (NASDAQ:DADA) in a report released on Thursday, StockNewsAPI reports. The brokerage set a “neutral” rating on the stock.

Several other research analysts also recently commented on the company. Mizuho decreased their price objective on Dada Nexus from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, January 17th. New Street Research reiterated a “neutral” rating and set a $2.00 target price (down previously from $15.00) on shares of Dada Nexus in a research report on Wednesday, March 6th. Citigroup cut Dada Nexus from a “buy” rating to a “sell” rating in a research report on Monday, January 8th. Finally, Daiwa Capital Markets upgraded 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.00.

Dada Nexus Stock Performance

Shares of NASDAQ DADA traded up $0.01 during trading on Thursday, hitting $2.01. The company had a trading volume of 427,221 shares, compared to its average volume of 3,092,762. The stock has a 50 day simple moving average of $2.16 and a 200 day simple moving average of $2.75. Dada Nexus has a 12 month low of $1.36 and a 12 month high of $7.03. The firm has a market capitalization of $526.64 million, a P/E ratio of -1.53 and a beta of 1.50.

Dada Nexus (NASDAQ:DADA) last posted its quarterly earnings data on Monday, March 25th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.09). Dada Nexus had a negative return on equity of 14.06% and a negative net margin of 22.62%. The company had revenue of $381.95 million during the quarter, compared to the consensus estimate of $436.80 million. As a group, analysts predict that Dada Nexus will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Dada Nexus

Several institutional investors have recently added to or reduced their stakes in DADA. Jump Financial LLC purchased a new position in shares of Dada Nexus in the 4th quarter worth approximately $42,000. Tower Research Capital LLC TRC increased its holdings in shares of Dada Nexus by 170.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 21,338 shares of the company’s stock valued at $71,000 after acquiring an additional 13,447 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Dada Nexus by 62.4% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 28,735 shares of the company’s stock valued at $128,000 after acquiring an additional 11,040 shares during the period. Fred Alger Management LLC grew its stake in Dada Nexus by 17.3% during the 3rd quarter. Fred Alger Management LLC now owns 129,000 shares of the company’s stock worth $574,000 after buying an additional 19,000 shares during the last quarter. Finally, Van Berkom & Associates Inc. grew its stake in Dada Nexus by 2.3% during the 3rd quarter. Van Berkom & Associates Inc. now owns 139,981 shares of the company’s stock worth $623,000 after buying an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors 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 platform for consumers, retailers, and brand owner.