Dada Nexus (NASDAQ:DADA) Given New $4.00 Price Target at Mizuho

Dada Nexus (NASDAQ:DADA) had its target price lowered by Mizuho from $4.50 to $4.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms also recently weighed in on DADA. Citigroup upgraded Dada Nexus from a “sell” rating to a “neutral” rating and boosted their price target for the company from $1.00 to $1.50 in a research note on Wednesday, August 21st. Daiwa America upgraded shares of Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. Finally, Daiwa Capital Markets started coverage on Dada Nexus in a research report on Thursday, August 22nd. They set a “neutral” rating on the stock. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.02.

Dada Nexus Price Performance

Shares of DADA stock opened at $1.38 on Tuesday. The company’s 50-day simple moving average is $1.62 and its two-hundred day simple moving average is $1.54. The company has a market capitalization of $358.53 million, a P/E ratio of -1.24 and a beta of 1.39. Dada Nexus has a one year low of $1.04 and a one year high of $4.12.

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

Hedge Funds Weigh In On Dada Nexus

Several institutional investors and hedge funds have recently bought and sold shares of DADA. Point72 Asia Singapore Pte. Ltd. acquired a new position in Dada Nexus in the third quarter valued at approximately $26,000. Virtu Financial LLC acquired a new position in Dada Nexus during the first quarter worth $28,000. Wolverine Trading LLC purchased a new position in shares of Dada Nexus during the third quarter worth $42,000. Natixis acquired a new position in Dada Nexus in the 1st quarter valued at about $51,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Dada Nexus in the third quarter valued at approximately $67,000. 59.25% of the stock is currently owned by institutional investors and hedge funds.

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.