Analysts Set Dada Nexus Limited (NASDAQ:DADA) PT at $2.70

Dada Nexus Limited (NASDAQ:DADA) has been assigned an average recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $2.70.

DADA has been the subject of several analyst reports. Mizuho reduced their price target on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Citigroup reduced their target price on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a report on Friday, November 15th.

Dada Nexus Stock Performance

NASDAQ:DADA opened at $1.36 on Friday. The firm has a market cap of $353.33 million, a P/E ratio of -1.23 and a beta of 1.36. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $2.83. The firm has a 50-day simple moving average of $1.37 and a two-hundred day simple moving average of $1.43.

Institutional Investors Weigh In On Dada Nexus

A number of large investors have recently added to or reduced their stakes in DADA. Dimensional Fund Advisors LP purchased a new position in shares of Dada Nexus in the 2nd quarter worth $230,000. Renaissance Technologies LLC boosted its position in Dada Nexus by 28.3% in the second 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 during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Dada Nexus by 202.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock valued at $779,000 after purchasing an additional 413,600 shares during the period. Marshall Wace LLP increased its position in shares of Dada Nexus by 7.5% during the 2nd quarter. Marshall Wace LLP now owns 619,716 shares of the company’s stock valued at $781,000 after purchasing an additional 43,359 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Dada Nexus in the 2nd quarter worth approximately $136,000. 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.