Dada Nexus (NASDAQ:DADA) Trading Down 3.7%

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DADA shares. Daiwa Capital Markets upgraded Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 price target on the stock in a research report on Tuesday, February 20th. Mizuho dropped their target price on Dada Nexus from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, January 17th. The Goldman Sachs Group assumed coverage on Dada Nexus in a report on Thursday, April 25th. They set a “neutral” rating and a $2.10 price target for the company. Citigroup cut shares of Dada Nexus from a “buy” rating to a “sell” rating in a research note on Monday, January 8th. Finally, New Street Research restated a “neutral” rating and issued a $2.00 target price (down previously from $15.00) on shares of Dada Nexus in a research note on Wednesday, March 6th. One equities 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. According to data from MarketBeat, Dada Nexus has a consensus rating of “Hold” and an average price target of $4.85.

Dada Nexus Stock Performance

The company has a market capitalization of $537.12 million, a PE ratio of -1.66 and a beta of 1.46. The firm’s 50-day simple moving average is $2.15 and its 200 day simple moving average is $2.63.

Dada Nexus (NASDAQ:DADA) last released its quarterly earnings data on Monday, March 25th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). Dada Nexus had a negative return on equity of 14.07% and a negative net margin of 22.62%. The company had revenue of $381.95 million for the quarter, compared to analysts’ expectations of $436.80 million. As a group, equities analysts anticipate that Dada Nexus Limited will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Dada Nexus

Several hedge funds have recently bought and sold shares of DADA. Jump Financial LLC purchased a new stake in Dada Nexus during the fourth quarter worth $42,000. Tower Research Capital LLC TRC grew its stake in Dada Nexus by 170.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 21,338 shares of the company’s stock valued at $71,000 after acquiring an additional 13,447 shares during the last quarter. Fred Alger Management LLC increased its holdings in Dada Nexus by 17.3% during the 3rd quarter. Fred Alger Management LLC now owns 129,000 shares of the company’s stock valued at $574,000 after acquiring an additional 19,000 shares in the last quarter. Van Berkom & Associates Inc. raised its position in Dada Nexus by 2.3% during the third quarter. Van Berkom & Associates Inc. now owns 139,981 shares of the company’s stock worth $623,000 after acquiring an additional 3,100 shares during the last quarter. Finally, ABS Direct Equity Fund LLC purchased a new stake in shares of Dada Nexus in the fourth quarter valued at about $667,000. 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.