Dada Nexus (NASDAQ:DADA) Price Target Lowered to $4.00 at Mizuho

Dada Nexus (NASDAQ:DADA) had its price objective lowered by equities research analysts at Mizuho from $4.50 to $4.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 154.78% from the company’s previous close.

DADA has been the topic of several other research reports. Daiwa Capital Markets started coverage on shares of Dada Nexus in a research report on Thursday, August 22nd. They issued a “neutral” rating on the stock. Citigroup raised shares of Dada Nexus from a “sell” rating to a “neutral” rating and boosted their target price for the company from $1.00 to $1.50 in a report on Wednesday, August 21st. Finally, Daiwa America raised Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.95.

Dada Nexus Trading Up 1.0 %

Shares of NASDAQ DADA opened at $1.57 on Tuesday. The stock has a fifty day simple moving average of $1.60 and a two-hundred day simple moving average of $1.55. Dada Nexus has a 1-year low of $1.04 and a 1-year high of $4.55. The firm has a market cap of $407.89 million, a price-to-earnings ratio of -1.44 and a beta of 1.39.

Dada Nexus (NASDAQ:DADA) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.09) earnings per share for the quarter. Dada Nexus had a negative return on equity of 10.94% and a negative net margin of 19.81%. The firm had revenue of $324.54 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DADA. Vanguard Group Inc. boosted its stake in Dada Nexus by 25.0% during the first quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company’s stock valued at $7,027,000 after buying an additional 686,316 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Dada Nexus by 202.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock valued at $779,000 after acquiring an additional 413,600 shares in the last quarter. Renaissance Technologies LLC boosted its position 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 valued at $2,170,000 after acquiring an additional 380,100 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Dada Nexus during the second quarter worth about $230,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Dada Nexus in the second quarter worth approximately $136,000. 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.