Dada Nexus Limited (NASDAQ:DADA) Given Consensus Rating of “Hold” by Brokerages

Shares of Dada Nexus Limited (NASDAQ:DADA) have been assigned an average recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $3.12.

DADA has been the subject of a number of research analyst reports. Citigroup raised shares of Dada Nexus from a “sell” rating to a “neutral” rating and upped their price objective for the company from $1.00 to $1.50 in a research report on Wednesday, August 21st. Daiwa America upgraded Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. Finally, Daiwa Capital Markets started coverage on Dada Nexus in a report on Thursday, August 22nd. They set a “neutral” rating on the stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DADA. Vanguard Group Inc. grew its holdings in shares of Dada Nexus by 25.0% in the 1st quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company’s stock worth $7,027,000 after purchasing an additional 686,316 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Dada Nexus by 202.3% in the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock valued at $779,000 after buying an additional 413,600 shares in the last quarter. Renaissance Technologies LLC grew its stake in Dada Nexus by 28.3% during the second quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock worth $2,170,000 after buying an additional 380,100 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in Dada Nexus during the second quarter worth about $230,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Dada Nexus during the second quarter worth approximately $136,000. 59.25% of the stock is currently owned by institutional investors and hedge funds.

Dada Nexus Stock Down 6.1 %

Shares of NASDAQ:DADA opened at $1.70 on Friday. The stock’s 50-day moving average is $1.58 and its 200-day moving average is $1.56. Dada Nexus has a 52-week low of $1.04 and a 52-week high of $4.55.

Dada Nexus (NASDAQ:DADA) last announced its earnings results on Tuesday, August 20th. The company reported ($0.09) earnings per share (EPS) for the quarter. Dada Nexus had a negative return on equity of 10.94% and a negative net margin of 19.81%. The company had revenue of $324.54 million for the quarter.

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.