Dada Nexus (NASDAQ:DADA) Trading Down 5.1%

Shares of Dada Nexus Limited (NASDAQ:DADA) dropped 5.1% during mid-day trading on Thursday . The company traded as low as $1.31 and last traded at $1.31. Approximately 1,613,170 shares traded hands during trading, a decline of 39% from the average daily volume of 2,631,734 shares. The stock had previously closed at $1.38.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DADA. New Street Research reiterated a “neutral” rating and issued a $2.00 target price (down previously from $15.00) on shares of Dada Nexus in a report on Wednesday, March 6th. The Goldman Sachs Group initiated coverage on Dada Nexus in a research note on Thursday, April 25th. They set a “neutral” rating and a $2.10 price target for the company. Mizuho lowered their target price on shares of Dada Nexus from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. Daiwa Capital Markets downgraded Dada Nexus from a “buy” rating to a “neutral” rating in a research report on Thursday, May 16th. Finally, Daiwa America lowered shares of Dada Nexus from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.66.

Dada Nexus Stock Down 5.1 %

The company has a market cap of $346.55 million, a P/E ratio of -1.02 and a beta of 1.39. The business has a fifty day moving average price of $1.76 and a 200-day moving average price of $2.11.

Dada Nexus (NASDAQ:DADA) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.13). Dada Nexus had a negative return on equity of 14.73% and a negative net margin of 22.77%. The company had revenue of $342.43 million for the quarter, compared to analyst estimates of $427.89 million. As a group, research analysts expect that Dada Nexus Limited will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Dada Nexus

Several institutional investors have recently modified their holdings of DADA. Federated Hermes Inc. grew its holdings in Dada Nexus by 135.5% during the 3rd quarter. Federated Hermes Inc. now owns 1,203,059 shares of the company’s stock valued at $5,354,000 after buying an additional 692,120 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of 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 acquiring an additional 19,000 shares during the period. Lansdowne Partners UK LLP bought a new position in Dada Nexus in the third quarter worth $2,920,000. Penserra Capital Management LLC grew its holdings in Dada Nexus by 7.7% in the third quarter. Penserra Capital Management LLC now owns 430,147 shares of the company’s stock worth $1,913,000 after purchasing an additional 30,880 shares during the period. Finally, TimesSquare Capital Management LLC raised its stake in Dada Nexus by 32.3% during the third quarter. TimesSquare Capital Management LLC now owns 305,800 shares of the company’s stock valued at $1,361,000 after buying an additional 74,700 shares during the last quarter. 59.25% of the stock is owned by institutional investors.

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.