Dada Nexus (NASDAQ:DADA) Shares Up 3.8%

Dada Nexus Limited (NASDAQ:DADA)’s stock price shot up 3.8% during trading on Wednesday . The company traded as high as $1.96 and last traded at $1.93. 515,727 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 3,114,435 shares. The stock had previously closed at $1.86.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DADA. Mizuho reduced their target price on shares of Dada Nexus from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, January 17th. New Street Research restated a “neutral” rating and set a $2.00 target price (down previously from $15.00) on shares of Dada Nexus in a report on Wednesday, March 6th. Citigroup cut shares of Dada Nexus from a “buy” rating to a “sell” rating in a research note on Monday, January 8th. The Goldman Sachs Group started coverage on shares of Dada Nexus in a research report on Thursday. They set a “neutral” rating and a $2.10 price target on the stock. Finally, Daiwa Capital Markets raised shares of Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 price target on the stock in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.85.

Dada Nexus Stock Up 0.5 %

The firm has a market cap of $526.64 million, a P/E ratio of -1.53 and a beta of 1.50. The firm’s 50-day simple moving average is $2.16 and its 200 day simple moving average is $2.73.

Dada Nexus (NASDAQ:DADA) last issued its quarterly earnings data on Monday, March 25th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The firm had revenue of $381.95 million for the quarter, compared to analysts’ expectations of $436.80 million. Dada Nexus had a negative net margin of 22.62% and a negative return on equity of 14.06%. As a group, analysts forecast that Dada Nexus Limited will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Dada Nexus

A number of hedge funds have recently made changes to their positions in the business. Jump Financial LLC purchased a new position in Dada Nexus during the 4th quarter valued at $42,000. Tower Research Capital LLC TRC lifted its stake in shares of Dada Nexus by 170.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 21,338 shares of the company’s stock worth $71,000 after purchasing an additional 13,447 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Dada Nexus by 62.4% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 28,735 shares of the company’s stock worth $128,000 after purchasing an additional 11,040 shares during the period. Fred Alger Management LLC lifted its stake in shares of Dada Nexus by 17.3% in the 3rd quarter. Fred Alger Management LLC now owns 129,000 shares of the company’s stock worth $574,000 after purchasing an additional 19,000 shares during the period. Finally, Van Berkom & Associates Inc. lifted its holdings in Dada Nexus by 2.3% during the third quarter. Van Berkom & Associates Inc. now owns 139,981 shares of the company’s stock valued at $623,000 after purchasing an additional 3,100 shares in the last quarter. 59.25% of the stock is currently owned by institutional investors.

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 platform for consumers, retailers, and brand owner.