Dada Nexus (NASDAQ:DADA) Shares Down 8.5%

Dada Nexus Limited (NASDAQ:DADA) fell 8.5% on Monday . The company traded as low as $19.88 and last traded at $19.98. 10,703 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 1,411,006 shares. The stock had previously closed at $21.84.

A number of research firms have recently weighed in on DADA. Citigroup lifted their price target on shares of Dada Nexus from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, June 9th. KeyCorp dropped their price target on shares of Dada Nexus from $47.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, September 9th. Zacks Investment Research downgraded shares of Dada Nexus from a “hold” rating to a “sell” rating in a research report on Wednesday, August 11th. lifted their price target on shares of Dada Nexus from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, June 9th. Finally, JPMorgan Chase & Co. began coverage on shares of Dada Nexus in a research note on Wednesday, June 9th. They issued an “overweight” rating and a $40.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $38.00.

The firm’s 50-day moving average price is $22.68 and its 200 day moving average price is $25.32. The company has a market capitalization of $4.70 billion, a P/E ratio of -13.21 and a beta of 1.08.

Dada Nexus (NASDAQ:DADA) last released its earnings results on Monday, September 6th. The company reported ($2.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($1.91). Dada Nexus had a negative net margin of 35.97% and a negative return on equity of 37.94%. As a group, analysts anticipate that Dada Nexus Limited will post -1.61 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of Dada Nexus during the 2nd quarter valued at $121,000. Ensign Peak Advisors Inc purchased a new stake in shares of Dada Nexus during the 2nd quarter valued at $119,000. Pinebridge Investments L.P. bought a new position in shares of Dada Nexus during the 1st quarter valued at $124,000. Macquarie Group Ltd. bought a new position in shares of Dada Nexus during the 2nd quarter valued at $144,000. Finally, Jane Street Group LLC grew its holdings in shares of Dada Nexus by 35.3% during the 1st quarter. Jane Street Group LLC now owns 24,095 shares of the company’s stock valued at $654,000 after purchasing an additional 6,291 shares during the last quarter. Hedge funds and other institutional investors own 22.12% of the company’s stock.

Dada Nexus Company Profile (NASDAQ:DADA)

Dada Nexus Limited operates platform of local on-demand retail and delivery in China. It operates JDDJ, a local on-demand retail platform for consumers, retailers, and brand owners; and Dada Now, a local on-demand delivery platform for merchants and individual senders in various industries and product categories.

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