Daiwa Capital Markets Lowers Dada Nexus (NASDAQ:DADA) to Neutral

Daiwa Capital Markets cut shares of Dada Nexus (NASDAQ:DADAFree Report) from a buy rating to a neutral rating in a research note published on Thursday morning, Marketbeat Ratings reports.

Several other equities analysts have also recently weighed in on the stock. Mizuho cut their target price on shares of Dada Nexus from $7.00 to $6.00 and set a buy rating for the company in a research note on Wednesday, January 17th. New Street Research restated 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. Finally, The Goldman Sachs Group began coverage on Dada Nexus in a research report on Thursday, April 25th. They issued a neutral rating and a $2.10 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $3.83.

Read Our Latest Analysis on DADA

Dada Nexus Stock Performance

NASDAQ DADA opened at $1.93 on Thursday. Dada Nexus has a 12 month low of $1.36 and a 12 month high of $6.94. The company’s 50 day moving average is $2.09 and its two-hundred day moving average is $2.51.

Dada Nexus (NASDAQ:DADAGet Free Report) last issued its earnings results on Monday, March 25th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The firm had revenue of $381.95 million during the quarter, compared to the consensus estimate of $436.80 million. Dada Nexus had a negative return on equity of 14.03% and a negative net margin of 22.77%. Equities research analysts forecast that Dada Nexus will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dada Nexus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DADA. Jump Financial LLC purchased a new position in shares of Dada Nexus in the 4th quarter worth approximately $42,000. Natixis bought a new stake in Dada Nexus in the first quarter worth $51,000. Tower Research Capital LLC TRC boosted its stake in Dada Nexus by 170.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 21,338 shares of the company’s stock worth $71,000 after buying an additional 13,447 shares during the period. Headlands Technologies LLC increased its position in Dada Nexus by 615.5% during the first quarter. Headlands Technologies LLC now owns 40,643 shares of the company’s stock valued at $83,000 after acquiring an additional 34,963 shares during the last quarter. Finally, Fore Capital LLC bought a new position in Dada Nexus during the first quarter valued at $92,000. 59.25% of the stock is currently owned by hedge funds and other institutional investors.

Dada Nexus Company Profile

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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.

Further Reading

Analyst Recommendations for Dada Nexus (NASDAQ:DADA)

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