Dada Nexus (NASDAQ:DADA) Stock Price Up 4.3% – Here’s Why

Dada Nexus Limited (NASDAQ:DADA) traded up 4.3% during mid-day trading on Monday . The company traded as high as $1.93 and last traded at $1.93. Approximately 336,163 shares traded hands during trading, a decline of 86% from the average session volume of 2,327,955 shares. The stock had previously closed at $1.85.

Wall Street Analyst Weigh In

Several research analysts have commented on DADA shares. Daiwa America upgraded shares of Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. Citigroup upgraded Dada Nexus from a “sell” rating to a “neutral” rating and boosted their target price for the company from $1.00 to $1.50 in a research note on Wednesday, August 21st. Finally, Daiwa Capital Markets initiated coverage on shares of Dada Nexus in a research note on Thursday, August 22nd. They set a “neutral” rating on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $3.35.

Dada Nexus Stock Performance

The stock has a market cap of $468.23 million, a P/E ratio of -1.41 and a beta of 1.37. The firm has a 50 day moving average of $1.41 and a two-hundred day moving average of $1.59.

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

Institutional Trading of Dada Nexus

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