Dada Nexus (NASDAQ:DADA) Stock Price Down 3.7%

Dada Nexus Limited (NASDAQ:DADA)’s share price fell 3.7% during trading on Monday . The stock traded as low as $2.07 and last traded at $2.09. 613,962 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 2,997,885 shares. The stock had previously closed at $2.17.

Analyst Ratings Changes

DADA has been the subject of several recent research reports. Daiwa Capital Markets raised 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. New Street Research reiterated a “neutral” rating and issued a $2.00 price objective (down previously from $15.00) on shares of Dada Nexus in a research report on Wednesday, March 6th. Citigroup cut Dada Nexus from a “buy” rating to a “sell” rating in a report on Monday, January 8th. The Goldman Sachs Group assumed coverage on shares of Dada Nexus in a research report on Thursday, April 25th. They issued a “neutral” rating and a $2.10 price objective for the company. Finally, Mizuho dropped their price objective 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 research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.85.

Dada Nexus Price Performance

The stock has a market capitalization of $537.12 million, a PE ratio of -1.66 and a beta of 1.46. The business’s fifty day moving average price is $2.15 and its 200-day moving average price is $2.63.

Dada Nexus (NASDAQ:DADA) last announced 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 company had revenue of $381.95 million for the quarter, compared to the consensus estimate of $436.80 million. Dada Nexus had a negative net margin of 22.62% and a negative return on equity of 14.07%. On average, analysts expect that Dada Nexus Limited will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dada Nexus

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TT International Asset Management LTD raised its position in shares of Dada Nexus by 33.9% during the 4th quarter. TT International Asset Management LTD now owns 3,367,558 shares of the company’s stock valued at $11,180,000 after purchasing an additional 852,790 shares during the period. Kaizen Capital Partners Ltd raised its holdings in Dada Nexus by 6.9% during 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 during the period. Federated Hermes Inc. lifted 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 valued at $5,354,000 after acquiring an additional 692,120 shares in the last quarter. Lansdowne Partners UK LLP bought a new position in shares of Dada Nexus in the third quarter worth about $2,920,000. Finally, Aviva PLC boosted its stake 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 acquiring an additional 518,113 shares during the period. Hedge funds and other institutional investors own 59.25% of the company’s stock.

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 platforms for consumers, retailers, and brand owners.