Dada Nexus (NASDAQ:DADA) Trading 3.8% Higher

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

Wall Street Analyst Weigh In

DADA has been the subject of a number of research analyst reports. Daiwa Capital Markets upgraded Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 price objective for the company in a report on Tuesday, February 20th. Citigroup lowered Dada Nexus from a “buy” rating to a “sell” rating in a research note on Monday, January 8th. New Street Research reaffirmed a “neutral” rating and issued a $2.00 price objective (down from $15.00) on shares of Dada Nexus in a research note on Wednesday, March 6th. Finally, Mizuho dropped their target price on shares of Dada Nexus from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.00.

Dada Nexus Stock Performance

The firm has a market capitalization of $524.02 million, a PE ratio of -1.52 and a beta of 1.50. The firm has a fifty day moving average of $2.16 and a 200 day moving average of $2.75.

Dada Nexus (NASDAQ:DADA) last posted its quarterly earnings data on Monday, March 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Research analysts forecast that Dada Nexus Limited will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Dada Nexus by 62.4% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 28,735 shares of the company’s stock worth $128,000 after buying an additional 11,040 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Dada Nexus by 36.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 257,181 shares of the company’s stock worth $1,144,000 after acquiring an additional 68,341 shares in the last quarter. Kaizen Capital Partners Ltd increased its position in shares of Dada Nexus by 6.9% in the 3rd quarter. Kaizen Capital Partners Ltd now owns 12,281,623 shares of the company’s stock worth $54,653,000 after purchasing an additional 788,425 shares during the last quarter. Van Berkom & Associates Inc. increased its position in shares of Dada Nexus by 2.3% in the 3rd quarter. Van Berkom & Associates Inc. now owns 139,981 shares of the company’s stock worth $623,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Dada Nexus by 74.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 249,261 shares of the company’s stock valued at $1,109,000 after purchasing an additional 106,168 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.