Dada Nexus Limited (NASDAQ:DADA – Get Rating) shares were down 5% on Friday after Citigroup lowered their price target on the stock from $12.50 to $11.00. The company traded as low as $6.28 and last traded at $6.29. Approximately 283,125 shares traded hands during trading, a decline of 86% from the average daily volume of 2,060,492 shares. The stock had previously closed at $6.62.
Separately, Mizuho decreased their price target on shares of Dada Nexus from $16.00 to $13.00 in a research note on Tuesday.
Hedge Funds Weigh In On Dada Nexus
Institutional investors have recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Dada Nexus by 133.6% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 33,968 shares of the company’s stock worth $294,000 after purchasing an additional 19,427 shares during the period. HighTower Advisors LLC purchased a new position in Dada Nexus in the 1st quarter valued at about $97,000. Panagora Asset Management Inc. lifted its holdings in Dada Nexus by 16.3% in the 1st quarter. Panagora Asset Management Inc. now owns 29,870 shares of the company’s stock valued at $273,000 after purchasing an additional 4,189 shares in the last quarter. BlackRock Inc. increased its stake in shares of Dada Nexus by 1.5% during the 1st quarter. BlackRock Inc. now owns 2,317,587 shares of the company’s stock valued at $21,160,000 after acquiring an additional 33,925 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its stake in shares of Dada Nexus by 15.2% during the 1st quarter. Vontobel Holding Ltd. now owns 20,565 shares of the company’s stock valued at $188,000 after acquiring an additional 2,710 shares during the last quarter. 18.11% of the stock is owned by institutional investors and hedge funds.
Dada Nexus Trading Down 7.3 %
The stock’s 50 day moving average price is $7.29 and its 200 day moving average price is $8.13. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -4.87 and a beta of 1.52.
Dada Nexus (NASDAQ:DADA – Get Rating) last posted its earnings results on Wednesday, March 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.12). The firm had revenue of $377.11 million during the quarter, compared to the consensus estimate of $409.58 million. Dada Nexus had a negative net margin of 24.51% and a negative return on equity of 22.21%. On average, equities analysts expect that Dada Nexus Limited will post 0.01 earnings per share for the current fiscal year.
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 platform for consumers, retailers, and brand owner.