Dada Nexus Limited (NASDAQ:DADA) Given Average Recommendation of “Hold” by Brokerages

Dada Nexus Limited (NASDAQ:DADA) has received an average rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $2.70.

Several equities analysts recently issued reports on the stock. Mizuho cut their price objective on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Citigroup cut their price objective on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a report on Friday, November 15th.

Hedge Funds Weigh In On Dada Nexus

Several institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Dada Nexus during the third quarter worth $26,000. Wolverine Trading LLC acquired a new stake in shares of Dada Nexus during the third quarter worth $42,000. Quadrature Capital Ltd acquired a new stake in shares of Dada Nexus during the third quarter worth $67,000. Marshall Wace LLP lifted its stake in shares of Dada Nexus by 7.5% during the second quarter. Marshall Wace LLP now owns 619,716 shares of the company’s stock worth $781,000 after buying an additional 43,359 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Dada Nexus during the third quarter worth $126,000. 59.25% of the stock is owned by hedge funds and other institutional investors.

Dada Nexus Stock Performance

Dada Nexus stock opened at $1.36 on Friday. The company has a 50 day moving average price of $1.37 and a 200-day moving average price of $1.43. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $2.83. The company has a market capitalization of $353.33 million, a PE ratio of -1.23 and a beta of 1.36.

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.