Dada Nexus Limited (NASDAQ:DADA – Get Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $2.08, but opened at $1.91. Dada Nexus shares last traded at $1.98, with a volume of 1,246,450 shares traded.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Daiwa Capital Markets assumed coverage on shares of Dada Nexus in a research report on Thursday, August 22nd. They set a “neutral” rating for the company. Daiwa America raised shares of Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. Finally, Citigroup upgraded Dada Nexus from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $1.00 to $1.50 in a research note on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.35.
View Our Latest Stock Report on DADA
Dada Nexus Stock Performance
Dada Nexus (NASDAQ:DADA – Get Free Report) last issued its earnings results on Tuesday, August 20th. The company reported ($0.09) EPS for the quarter. The firm had revenue of $324.54 million during the quarter. Dada Nexus had a negative return on equity of 10.94% and a negative net margin of 19.81%.
Institutional Trading of Dada Nexus
Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Dada Nexus during the 3rd quarter valued at about $126,000. Susquehanna Fundamental Investments LLC acquired a new position in Dada Nexus in the second quarter valued at approximately $136,000. Marshall Wace LLP boosted its stake in Dada Nexus by 7.5% in the second quarter. Marshall Wace LLP now owns 619,716 shares of the company’s stock valued at $781,000 after acquiring an additional 43,359 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Dada Nexus by 202.3% during the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock valued at $779,000 after purchasing an additional 413,600 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Dada Nexus by 28.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock worth $2,170,000 after purchasing an additional 380,100 shares during the period. 59.25% of the stock is owned by institutional investors and hedge funds.
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.
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