Dada Nexus (NASDAQ:DADA) Stock Price Up 4.3% – Time to Buy?

Dada Nexus Limited (NASDAQ:DADA)’s stock price traded up 4.3% on Monday . The company traded as high as $1.93 and last traded at $1.93. 336,163 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 2,327,955 shares. The stock had previously closed at $1.85.

Analysts Set New Price Targets

Several research firms have issued reports on DADA. Daiwa America upgraded Dada Nexus to a “hold” rating in a research note on Thursday, August 22nd. Citigroup upgraded shares of Dada Nexus from a “sell” rating to a “neutral” rating and increased their target price for the stock from $1.00 to $1.50 in a research report on Wednesday, August 21st. Finally, Daiwa Capital Markets assumed coverage on shares of Dada Nexus in a research note on Thursday, August 22nd. They set a “neutral” rating on the stock. Six 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, the stock currently has a consensus rating of “Hold” and an average price target of $3.35.

Dada Nexus Price Performance

The company’s 50 day moving average price is $1.41 and its 200 day moving average price is $1.59. The firm has a market capitalization of $468.23 million, a P/E ratio of -1.41 and a beta of 1.37.

Dada Nexus (NASDAQ:DADA) last issued its quarterly earnings results 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 net margin of 19.81% and a negative return on equity of 10.94%.

Institutional Investors Weigh In On Dada Nexus

A number of institutional investors and hedge funds have recently modified their holdings of DADA. Vanguard Group Inc. raised 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 valued at $7,027,000 after acquiring an additional 686,316 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Dada Nexus by 28.3% in the second quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock valued at $2,170,000 after purchasing an additional 380,100 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Dada Nexus by 202.3% in the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock valued at $779,000 after buying an additional 413,600 shares during the period. Headlands Technologies LLC boosted its holdings in Dada Nexus by 615.5% during the first quarter. Headlands Technologies LLC now owns 40,643 shares of the company’s stock worth $83,000 after buying an additional 34,963 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Dada Nexus during the 1st quarter worth about $28,000. 59.25% of the stock is owned by institutional investors.

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.