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

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

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

Dada Nexus Stock Performance

Shares of NASDAQ DADA opened at $1.38 on Tuesday. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $4.12. The firm has a market capitalization of $358.53 million, a PE ratio of -1.24 and a beta of 1.39. The stock’s 50-day simple moving average is $1.62 and its 200-day simple moving average is $1.54.

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

Institutional Investors Weigh In On Dada Nexus

A number of hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in Dada Nexus in the third quarter worth about $26,000. Virtu Financial LLC acquired a new position in Dada Nexus in the first quarter worth $28,000. Wolverine Trading LLC bought a new stake in Dada Nexus during the third quarter valued at $42,000. Natixis acquired a new stake in shares of Dada Nexus during the first quarter worth $51,000. Finally, Quadrature Capital Ltd acquired a new position in Dada Nexus in the third quarter valued at approximately $67,000. Institutional investors and hedge funds own 59.25% of the company’s stock.

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.