Dada Nexus (NASDAQ:DADA) Trading 3.8% Higher

Dada Nexus Limited (NASDAQ:DADA) rose 3.8% on Wednesday . The stock traded as high as $1.96 and last traded at $1.93. Approximately 515,727 shares traded hands during trading, a decline of 83% from the average daily volume of 3,114,435 shares. The stock had previously closed at $1.86.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DADA shares. 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 research note on Wednesday, March 6th. Citigroup downgraded shares of Dada Nexus from a “buy” rating to a “sell” rating in a report on Monday, January 8th. Mizuho decreased their price target on Dada Nexus from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, January 17th. Finally, Daiwa Capital Markets raised Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 price objective for the company in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Dada Nexus currently has an average rating of “Hold” and an average price target of $6.00.

Dada Nexus Stock Up 7.5 %

The company’s 50-day simple moving average is $2.16 and its 200 day simple moving average is $2.75. The firm has a market capitalization of $524.02 million, a PE ratio of -1.52 and a beta of 1.50.

Dada Nexus (NASDAQ:DADA) last announced its earnings results on Monday, March 25th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.09). Dada Nexus had a negative return on equity of 14.06% and a negative net margin of 22.62%. The business had revenue of $381.95 million for the quarter, compared to analysts’ expectations of $436.80 million. On average, sell-side analysts forecast that Dada Nexus Limited will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of Dada Nexus

Institutional investors and hedge funds have recently bought and sold shares of the business. Jump Financial LLC acquired a new position in shares of Dada Nexus in the 4th quarter valued at about $42,000. Tower Research Capital LLC TRC lifted its holdings in Dada Nexus by 170.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 21,338 shares of the company’s stock valued at $71,000 after acquiring an additional 13,447 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in 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 in the last quarter. Fred Alger Management LLC grew its stake in shares of Dada Nexus by 17.3% during 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. increased its holdings in shares of Dada Nexus by 2.3% during the 3rd 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 and hedge funds.

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 platform for consumers, retailers, and brand owner.