Dada Nexus (NASDAQ:DADA) Given New $1.90 Price Target at Citigroup

Dada Nexus (NASDAQ:DADA) had its price target reduced by equities researchers at Citigroup from $2.00 to $1.90 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 38.18% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Mizuho dropped their price target on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday. Daiwa Capital Markets initiated coverage on shares of Dada Nexus in a research report on Thursday, August 22nd. They set a “neutral” rating for the company. Finally, Daiwa America raised Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Dada Nexus presently has a consensus rating of “Hold” and an average price target of $3.02.

Dada Nexus Trading Up 0.4 %

NASDAQ DADA traded up $0.01 during trading on Friday, reaching $1.38. The company’s stock had a trading volume of 686,324 shares, compared to its average volume of 2,228,679. The stock has a market capitalization of $357.23 million, a PE ratio of -1.24 and a beta of 1.39. Dada Nexus has a 1-year low of $1.04 and a 1-year high of $4.12. The business has a 50-day moving average price of $1.61 and a 200-day moving average price of $1.55.

Dada Nexus (NASDAQ:DADA) last issued its quarterly earnings data 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 12.39% and a negative net margin of 20.95%. The business had revenue of $324.54 million during the quarter.

Institutional Investors Weigh In On Dada Nexus

Several hedge funds have recently made changes to their positions in DADA. Point72 Asia Singapore Pte. Ltd. bought a new position in Dada Nexus during the third quarter valued at about $26,000. Virtu Financial LLC acquired a new position in shares of Dada Nexus in the first quarter valued at $28,000. Natixis bought a new position in Dada Nexus in the first quarter worth $51,000. Headlands Technologies LLC boosted its stake in Dada Nexus by 111.2% during the second quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock worth $108,000 after buying an additional 45,192 shares in the last quarter. Finally, EntryPoint Capital LLC increased its holdings in Dada Nexus by 69.6% in the 1st quarter. EntryPoint Capital LLC now owns 55,899 shares of the company’s stock valued at $115,000 after buying an additional 22,936 shares during the period. Institutional investors own 59.25% of the company’s stock.

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.