Dada Nexus (NASDAQ:DADA) Price Target Cut to $1.90 by Analysts at Citigroup

Dada Nexus (NASDAQ:DADA) had its price target cut by Citigroup from $2.00 to $1.90 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently issued reports on DADA. Daiwa America raised Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. Mizuho dropped their target price on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Daiwa Capital Markets assumed coverage on shares of Dada Nexus in a research report on Thursday, August 22nd. They issued a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.02.

Dada Nexus Price Performance

Shares of DADA stock traded up $0.01 during trading hours on Friday, reaching $1.38. 1,020,015 shares of the stock were exchanged, compared to its average volume of 2,230,350. The business’s fifty day moving average is $1.62 and its two-hundred day moving average is $1.54. The firm has a market capitalization of $358.53 million, a P/E ratio of -1.24 and a beta of 1.39. Dada Nexus has a 12-month low of $1.04 and a 12-month high of $4.12.

Dada Nexus (NASDAQ:DADA) last released its quarterly earnings data on Tuesday, August 20th. The company reported ($0.09) earnings per share (EPS) for the quarter. The firm had revenue of $324.54 million for the quarter. Dada Nexus had a negative return on equity of 12.39% and a negative net margin of 20.95%.

Hedge Funds Weigh In On Dada Nexus

A number of large investors have recently bought and sold shares of DADA. Vanguard Group Inc. boosted its position in shares of Dada Nexus by 25.0% during the 1st quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company’s stock worth $7,027,000 after purchasing an additional 686,316 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Dada Nexus by 28.3% during the 2nd 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 in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Dada Nexus by 202.3% in the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock worth $779,000 after acquiring an additional 413,600 shares during the last quarter. Virtu Financial LLC purchased a new position in Dada Nexus in the 1st quarter valued at about $28,000. Finally, Headlands Technologies LLC raised its position in shares of Dada Nexus by 111.2% in the second quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock valued at $108,000 after buying an additional 45,192 shares during the last quarter. Hedge funds and other 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.