Mizuho Cuts Dada Nexus (NASDAQ:DADA) Price Target to $4.00

Dada Nexus (NASDAQ:DADA) had its target price trimmed by Mizuho from $4.50 to $4.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also commented on DADA. Daiwa America upgraded shares of Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. Citigroup raised shares of Dada Nexus from a “sell” rating to a “neutral” rating and increased their price target for the stock from $1.00 to $1.50 in a research note on Wednesday, August 21st. Finally, Daiwa Capital Markets started coverage on Dada Nexus in a research report on Thursday, August 22nd. They set a “neutral” rating on the stock. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.95.

Dada Nexus Price Performance

NASDAQ DADA opened at $1.37 on Tuesday. Dada Nexus has a 1 year low of $1.04 and a 1 year high of $4.55. The stock has a market capitalization of $355.93 million, a PE ratio of -1.29 and a beta of 1.39. The business’s 50-day moving average is $1.61 and its 200 day moving average is $1.55.

Dada Nexus (NASDAQ:DADA) last issued its quarterly earnings data on Tuesday, August 20th. The company reported ($0.09) earnings per share for the quarter. The business 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 Investors Weigh In On Dada Nexus

A number of hedge funds and other institutional investors have recently bought and sold shares of DADA. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Dada Nexus during the third quarter valued at approximately $26,000. Virtu Financial LLC bought a new position in Dada Nexus during the 1st quarter valued at approximately $28,000. Natixis purchased a new position in Dada Nexus during the first quarter valued at $51,000. Headlands Technologies LLC boosted its holdings in Dada Nexus by 615.5% in the first quarter. Headlands Technologies LLC now owns 40,643 shares of the company’s stock worth $83,000 after acquiring an additional 34,963 shares in the last quarter. Finally, EntryPoint Capital LLC grew its stake in shares of Dada Nexus by 69.6% in the first quarter. EntryPoint Capital LLC now owns 55,899 shares of the company’s stock worth $115,000 after acquiring an additional 22,936 shares during the last quarter. Hedge funds and other 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.