Mizuho Issues Pessimistic Forecast for Dada Nexus (NASDAQ:DADA) Stock Price

Dada Nexus (NASDAQ:DADA) had its price target lowered by Mizuho from $4.50 to $4.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective would indicate a potential upside of 135.29% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Citigroup upgraded shares of Dada Nexus from a “sell” rating to a “neutral” rating and raised their price target for the stock from $1.00 to $1.50 in a report on Wednesday, August 21st. Daiwa Capital Markets began coverage on shares of Dada Nexus in a report on Thursday, August 22nd. They set a “neutral” rating for the company. Finally, Daiwa America upgraded shares of Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. 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 price target of $2.95.

Dada Nexus Stock Performance

DADA stock opened at $1.70 on Tuesday. The company has a market cap of $441.66 million, a price-to-earnings ratio of -1.56 and a beta of 1.39. Dada Nexus has a 12 month low of $1.04 and a 12 month high of $4.55. The firm has a 50-day moving average of $1.59 and a two-hundred day moving average of $1.55.

Dada Nexus (NASDAQ:DADA) last released its quarterly earnings data on Tuesday, August 20th. The company reported ($0.09) EPS for the quarter. The business had revenue of $324.54 million during the quarter. Dada Nexus had a negative net margin of 19.81% and a negative return on equity of 10.94%.

Hedge Funds Weigh In On Dada Nexus

Hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in Dada Nexus in the 1st quarter valued at approximately $28,000. Natixis purchased a new position in Dada Nexus in the 1st quarter valued at approximately $51,000. Headlands Technologies LLC boosted its position in Dada Nexus by 615.5% in the 1st quarter. Headlands Technologies LLC now owns 40,643 shares of the company’s stock valued at $83,000 after buying an additional 34,963 shares during the period. EntryPoint Capital LLC boosted its position in Dada Nexus by 69.6% in the 1st quarter. EntryPoint Capital LLC now owns 55,899 shares of the company’s stock valued at $115,000 after buying an additional 22,936 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Dada Nexus in the 3rd quarter valued at approximately $126,000. Hedge funds and other institutional investors 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.