Dada Nexus Limited (NASDAQ:DADA – Get Free Report)’s share price was down 5.1% during trading on Thursday . The company traded as low as $1.31 and last traded at $1.31. 1,613,170 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 2,631,734 shares. The stock had previously closed at $1.38.
Wall Street Analyst Weigh In
A number of analysts have commented on DADA shares. Daiwa Capital Markets downgraded Dada Nexus from a “buy” rating to a “neutral” rating in a research report on Thursday, May 16th. New Street Research reiterated a “neutral” rating and set a $2.00 target price (down from $15.00) on shares of Dada Nexus in a research report on Wednesday, March 6th. Mizuho lowered their price objective on Dada Nexus from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. The Goldman Sachs Group began coverage on Dada Nexus in a report on Thursday, April 25th. They issued a “neutral” rating and a $2.10 target price for the company. Finally, Daiwa America lowered Dada Nexus from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.66.
Dada Nexus Price Performance
The business has a 50 day simple moving average of $1.76 and a 200 day simple moving average of $2.11. The company has a market cap of $346.55 million, a price-to-earnings ratio of -1.02 and a beta of 1.39.
Dada Nexus (NASDAQ:DADA – Get Free Report) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.13). The company had revenue of $342.43 million for the quarter, compared to analyst estimates of $427.89 million. Dada Nexus had a negative return on equity of 14.73% and a negative net margin of 22.77%. As a group, sell-side analysts anticipate that Dada Nexus Limited will post 0.22 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. TT International Asset Management LTD raised its position in shares of Dada Nexus by 33.9% during the fourth quarter. TT International Asset Management LTD now owns 3,367,558 shares of the company’s stock worth $11,180,000 after acquiring an additional 852,790 shares during the last quarter. Federated Hermes Inc. raised its holdings in Dada Nexus by 135.5% during the 3rd quarter. Federated Hermes Inc. now owns 1,203,059 shares of the company’s stock worth $5,354,000 after purchasing an additional 692,120 shares during the last quarter. Vanguard Group Inc. lifted its position in Dada Nexus by 25.0% during the 1st quarter. Vanguard Group Inc. now owns 3,427,799 shares of the company’s stock valued at $7,027,000 after purchasing an additional 686,316 shares during the period. Lansdowne Partners UK LLP bought a new position in shares of Dada Nexus in the 3rd quarter valued at about $2,920,000. Finally, ABS Direct Equity Fund LLC acquired a new stake in shares of Dada Nexus during the 4th quarter worth approximately $667,000. Institutional investors and hedge funds own 59.25% of the company’s stock.
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.