Brokerages Set Dada Nexus Limited (NASDAQ:DADA) PT at $6.00

Dada Nexus Limited (NASDAQ:DADA) has received a consensus rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $6.00.

DADA has been the subject of a number of research analyst reports. New Street Research reaffirmed a “neutral” rating and set a $2.00 price objective (down previously from $15.00) on shares of Dada Nexus in a research report on Wednesday, March 6th. Citigroup lowered shares of Dada Nexus from a “buy” rating to a “sell” rating in a report on Monday, January 8th. Mizuho cut their price target on shares of 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, Daiwa Capital Markets upgraded shares of Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 price objective on the stock in a research note on Tuesday, February 20th.

Dada Nexus Stock Down 0.9 %

DADA opened at $2.10 on Friday. Dada Nexus has a twelve month low of $1.36 and a twelve month high of $8.92. The company has a 50-day moving average price of $2.13 and a 200 day moving average price of $3.08. The company has a market cap of $550.22 million, a PE ratio of -1.60 and a beta of 1.51.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. E Fund Management Hong Kong Co. Ltd. increased its stake in Dada Nexus by 133.6% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 33,968 shares of the company’s stock valued at $294,000 after buying an additional 19,427 shares during the period. HighTower Advisors LLC acquired a new stake in Dada Nexus during the first quarter worth $97,000. Panagora Asset Management Inc. boosted its stake in shares of Dada Nexus by 16.3% in the 1st quarter. Panagora Asset Management Inc. now owns 29,870 shares of the company’s stock valued at $273,000 after purchasing an additional 4,189 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Dada Nexus by 1.5% in the first quarter. BlackRock Inc. now owns 2,317,587 shares of the company’s stock valued at $21,160,000 after buying an additional 33,925 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its position in shares of Dada Nexus by 15.2% in the 1st quarter. Vontobel Holding Ltd. now owns 20,565 shares of the company’s stock worth $188,000 after purchasing an additional 2,710 shares during the last quarter. 59.25% of the stock is currently owned by institutional investors.

About Dada Nexus

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.