Citigroup Cuts Dada Nexus (NASDAQ:DADA) Price Target to $1.90

Dada Nexus (NASDAQ:DADA) had its price objective dropped by equities researchers at Citigroup from $2.00 to $1.90 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 38.18% from the company’s previous close.

Several other research firms have also weighed in on DADA. Mizuho reduced their price objective on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a research report on Tuesday. Daiwa Capital Markets began coverage on Dada Nexus in a research report on Thursday, August 22nd. They set a “neutral” rating for the company. Finally, Daiwa America upgraded 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 issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.02.

Dada Nexus Price Performance

Shares of NASDAQ DADA traded up $0.01 during mid-day trading on Friday, reaching $1.38. 686,324 shares of the company traded hands, compared to its average volume of 2,228,679. The firm has a market cap of $357.23 million, a PE ratio of -1.24 and a beta of 1.39. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $4.12. The stock has a fifty day simple moving average of $1.61 and a 200-day simple moving average of $1.55.

Dada Nexus (NASDAQ:DADA) last posted its quarterly earnings data on Tuesday, August 20th. The company reported ($0.09) EPS for the quarter. Dada Nexus had a negative return on equity of 12.39% and a negative net margin of 20.95%. The firm had revenue of $324.54 million during the quarter.

Institutional Investors Weigh In On Dada Nexus

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Dada Nexus by 25.0% in the first quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company’s stock worth $7,027,000 after purchasing an additional 686,316 shares in the last quarter. Renaissance Technologies LLC increased its stake in Dada Nexus by 28.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock valued at $2,170,000 after buying an additional 380,100 shares during the period. Canada Pension Plan Investment Board lifted its position in Dada Nexus by 202.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock worth $779,000 after buying an additional 413,600 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Dada Nexus during the 1st quarter valued at $28,000. Finally, Headlands Technologies LLC grew its holdings in shares of Dada Nexus by 111.2% during the 2nd quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock valued at $108,000 after acquiring an additional 45,192 shares in the last quarter. 59.25% of the stock is owned by hedge funds and other 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.