Dada Nexus (NASDAQ:DADA) Shares Gap Down to $22.00

Dada Nexus Limited (NASDAQ:DADA)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $22.00, but opened at $21.31. Dada Nexus shares last traded at $20.30, with a volume of 3,788 shares trading hands.

Several equities analysts have recently issued reports on the company. Citigroup upped their price target on Dada Nexus from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, June 9th. Morgan Stanley raised Dada Nexus from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $35.00 to $31.60 in a research note on Wednesday. KeyCorp cut their target price on Dada Nexus from $47.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, September 9th. Zacks Investment Research lowered Dada Nexus from a “hold” rating to a “sell” rating in a research note on Wednesday, August 11th. Finally, increased their target price on Dada Nexus from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, June 9th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Dada Nexus presently has an average rating of “Buy” and a consensus target price of $36.83.

The company has a market cap of $4.78 billion, a price-to-earnings ratio of -13.18 and a beta of 1.08. The stock has a 50-day moving average price of $22.13 and a 200 day moving average price of $24.98.

Dada Nexus (NASDAQ:DADA) last released its quarterly earnings results on Monday, September 6th. The company reported ($2.32) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($1.91). Dada Nexus had a negative return on equity of 37.94% and a negative net margin of 35.97%. On average, equities research analysts anticipate that Dada Nexus Limited will post -1.61 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of DADA. BlackRock Inc. grew its holdings in shares of Dada Nexus by 4,995.5% during the second quarter. BlackRock Inc. now owns 2,231,897 shares of the company’s stock worth $64,747,000 after buying an additional 2,188,096 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Dada Nexus by 224.9% during the second quarter. Vanguard Group Inc. now owns 2,168,629 shares of the company’s stock worth $62,911,000 after buying an additional 1,501,212 shares in the last quarter. State Street Corp grew its holdings in shares of Dada Nexus by 1,820.4% during the second quarter. State Street Corp now owns 854,383 shares of the company’s stock worth $24,786,000 after buying an additional 809,892 shares in the last quarter. Caas Capital Management LP bought a new position in shares of Dada Nexus during the first quarter worth about $20,810,000. Finally, Baillie Gifford & Co. grew its holdings in shares of Dada Nexus by 7.8% during the second quarter. Baillie Gifford & Co. now owns 7,756,215 shares of the company’s stock worth $225,008,000 after buying an additional 559,007 shares in the last quarter. Institutional investors and hedge funds own 22.12% of the company’s stock.

Dada Nexus Company Profile (NASDAQ:DADA)

Dada Nexus Limited operates platform of local on-demand retail and delivery in China. It operates JDDJ, a local on-demand retail platform for consumers, retailers, and brand owners; and Dada Now, a local on-demand delivery platform for merchants and individual senders in various industries and product categories.

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