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

Dada Nexus (NASDAQ:DADA) had its price objective decreased by Mizuho from $4.50 to $4.00 in a research note issued to investors on Tuesday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the company. Daiwa Capital Markets assumed coverage on Dada Nexus in a research note on Thursday, August 22nd. They set a “neutral” rating on the stock. Citigroup upgraded Dada Nexus from a “sell” rating to a “neutral” rating and upped their price target for the stock from $1.00 to $1.50 in a report on Wednesday, August 21st. Finally, Daiwa America upgraded shares of Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Dada Nexus currently has a consensus rating of “Hold” and an average price target of $2.95.

Dada Nexus Stock Down 8.5 %

Shares of DADA stock opened at $1.56 on Tuesday. The firm has a 50 day moving average of $1.59 and a 200-day moving average of $1.55. The company has a market cap of $403.99 million, a price-to-earnings ratio of -1.56 and a beta of 1.39. Dada Nexus has a 52 week low of $1.04 and a 52 week high of $4.55.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in Dada Nexus in the 1st quarter worth about $28,000. Natixis bought a new stake in shares of Dada Nexus in the first quarter valued at approximately $51,000. Headlands Technologies LLC lifted its stake in shares of Dada Nexus by 615.5% during the 1st quarter. Headlands Technologies LLC now owns 40,643 shares of the company’s stock valued at $83,000 after buying an additional 34,963 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in Dada Nexus by 69.6% in the 1st quarter. EntryPoint Capital LLC now owns 55,899 shares of the company’s stock worth $115,000 after buying an additional 22,936 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Dada Nexus in the 3rd quarter valued at approximately $126,000. 59.25% of the stock is owned by institutional investors.

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.