Dada Nexus Limited (NASDAQ:DADA) Given Consensus Recommendation of “Hold” by Analysts

Dada Nexus Limited (NASDAQ:DADA) has been assigned a consensus rating of “Hold” from the eight research firms that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $3.35.

DADA has been the subject of several research analyst reports. Daiwa Capital Markets initiated coverage on shares of Dada Nexus in a research report on Thursday. They set a “neutral” rating for the company. Citigroup upgraded shares of Dada Nexus from a “sell” rating to a “neutral” rating and upped their price target for the stock from $1.00 to $1.50 in a research report on Wednesday. Mizuho reduced their price target on shares of Dada Nexus from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. Finally, Daiwa America upgraded shares of Dada Nexus to a “hold” rating in a report on Thursday.

Dada Nexus Stock Up 1.3 %

DADA opened at $1.18 on Tuesday. Dada Nexus has a twelve month low of $1.12 and a twelve month high of $5.82. The company has a 50-day moving average price of $1.36 and a 200 day moving average price of $1.78. The company has a market cap of $310.83 million, a PE ratio of -0.92 and a beta of 1.34.

Institutional Trading of Dada Nexus

A number of hedge funds and other institutional investors have recently made changes to their positions in DADA. ABS Direct Equity Fund LLC acquired a new stake in shares of Dada Nexus during the 4th quarter worth approximately $667,000. Jump Financial LLC acquired a new stake in shares of Dada Nexus during the 4th quarter worth approximately $42,000. Fore Capital LLC acquired a new stake in shares of Dada Nexus during the 1st quarter worth approximately $92,000. Headlands Technologies LLC increased its holdings in shares of Dada Nexus by 615.5% during the 1st quarter. Headlands Technologies LLC now owns 40,643 shares of the company’s stock worth $83,000 after buying an additional 34,963 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Dada Nexus by 25.0% during the 1st quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company’s stock worth $7,027,000 after buying an additional 686,316 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.