Dada Nexus (NASDAQ:DADA) Shares Up 3.8%

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup lowered Dada Nexus from a “buy” rating to a “sell” rating in a report on Monday, January 8th. Daiwa Capital Markets upgraded Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 target price on the stock in a report on Tuesday, February 20th. New Street Research reiterated 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. Mizuho dropped their price objective on Dada Nexus from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, January 17th. Finally, The Goldman Sachs Group initiated coverage on Dada Nexus in a research note on Thursday. They issued a “neutral” rating and a $2.10 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Dada Nexus currently has an average rating of “Hold” and a consensus price target of $4.85.

Dada Nexus Trading Up 0.5 %

The firm has a market capitalization of $526.64 million, a P/E ratio of -1.53 and a beta of 1.50. The company has a 50-day moving average of $2.16 and a 200-day moving average of $2.73.

Dada Nexus (NASDAQ:DADA) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $436.80 million. Research analysts predict that Dada Nexus Limited will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Dada Nexus

A number of hedge funds have recently added to or reduced their stakes in the stock. Kaizen Capital Partners Ltd grew its holdings in shares of Dada Nexus by 6.9% in the third quarter. Kaizen Capital Partners Ltd now owns 12,281,623 shares of the company’s stock valued at $54,653,000 after acquiring an additional 788,425 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Dada Nexus by 1.0% during the third quarter. Baillie Gifford & Co. now owns 7,489,745 shares of the company’s stock worth $33,329,000 after acquiring an additional 75,734 shares in the last quarter. TT International Asset Management LTD lifted its position in shares of Dada Nexus by 33.9% during the fourth quarter. TT International Asset Management LTD now owns 3,367,558 shares of the company’s stock worth $11,180,000 after acquiring an additional 852,790 shares in the last quarter. Aviva PLC raised its position in shares of Dada Nexus by 56.0% in the third quarter. Aviva PLC now owns 1,443,060 shares of the company’s stock worth $6,422,000 after buying an additional 518,113 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Dada Nexus by 135.5% in the third quarter. Federated Hermes Inc. now owns 1,203,059 shares of the company’s stock worth $5,354,000 after buying an additional 692,120 shares in the last quarter. Institutional investors and hedge funds 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 platform for consumers, retailers, and brand owner.