The Vanguard Group, Inc. has recently announced that it has increased stake in Dada Nexus Limited (NASDAQ:DADA) by 10.22%. After grabbing 2.04 million shares, the institutional investor is now in possession of 0.19 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 0.79% having worth around $6.29 million. Moreover, TT International Asset Management increased its share by 1.44 million to have a control over 1.44 million shares. And BlackRock Fund Advisors raised its holdings to 0.15 million shares by acquiring 1.24 million shares or 0.48% of the stake.
Dada Nexus Limited (DADA) concluded trading on 11/23/22 at a closing price of $4.65, with 0.47 million shares of worth about $2.17 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -22.63% during that period and on Wednesday the price saw a gain of about 7.14%. Currently the company’s common shares owned by public are about 257.23M shares, out of which, 254.98M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 15 analysts are covering the DADA stock and their offered price forecasts bring an average price target of $76.98. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $142.57 and could fall to a lowest price of $40.83. The stock’s current price level is 54.5% above of average price target set by the analysts, while a rise to estimated low would result in gain of 88.61% for the stock. However, touching the estimated high of $142.57 would mean a gain of 96.74% for the stock.
JPMorgan Emerging Markets Equity, JPMorgan Funds – Emerging Markets, and KraneShares CSI China Internet ET are the top 3 mutual funds which are holding stakes in Dada Nexus Limited JPMorgan Emerging Markets Equity is currently holding 3.42 million shares of worth totaling $10.57 million. The company recently came buying 0.0 shares which brought its stake up to 1.32% of the company’s outstanding shares. KraneShares CSI China Internet ET, after buying 2.72 million shares, have now control over 1.05% of the stake in the company. It holds 5320.0 shares of worth $8.41 million.
Dada Nexus Limited (NASDAQ: DADA) started trading at $4.46, above $0.12 from concluding price of the previous day. However, the stock later moved at a day high price of 4.6700, or with a gain of 7.14%. Stock saw a price change of -9.53% in past 5 days and over the past one month there was a price change of 38.39%. Year-to-date (YTD), DADA shares are showing a performance of -64.67% which decreased to -78.67% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.98 but also hit the highest price of $24.01 during that period. The average intraday trading volume for Dada Nexus Limited shares is 938.29K. The stock is currently trading 18.50% above its 20-day simple moving average (SMA20), while that difference is up 6.37% for SMA50 and it goes to -32.69% lower than SMA200.
The Vanguard Group, Inc. acquired 2.04 million shares of Dada Nexus Limited having value of about $6.29 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.19 million shares in the company valued at close to $877859.55, or have control over 10.22% stake in the company. Dada Nexus Limited (NASDAQ: DADA) currently have 257.23M outstanding shares and institutions hold larger chunk of about 18.40% of that. Holding of mutual funds in the company is about 7.16% while other institutional holders and individual stake holders have control over 8.87% and — of the stake respectively.
The stock has a current market capitalization of $1.25B. It has posted earnings per share of -$1.27 in the same period. It has Quick Ratio of 3.10 while making debt-to-equity ratio of 0.08. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DADA, volatility over the week remained 11.64% while standing at 10.42% over the month.
Analysts are in expectations that Dada Nexus Limited (DADA) stock would likely to be making an EPS of -$0.17 in the current quarter, while forecast for next quarter EPS is -$0.12 and it is $0.25 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.2 which is -$0.11 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.3 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 16.60% while it is estimated to increase by 130.00% in next year.
Analysts at 15 brokerage firms have issued recommendations for the Dada Nexus Limited (DADA)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.50. Out of those 15 Wall Street analysts, 15 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on May 16, 2022 offering an Overweight rating for the stock and assigned a target price range of between $7.50 and $10 to it. Coverage by JP Morgan stated Dada Nexus Limited (DADA) stock as a Neutral in their note to investors on March 14, 2022, suggesting a price target of $7.50 for the stock. On March 09, 2022, Credit Suisse Upgrade their recommendations, while on January 14, 2022, Mizuho Initiated their ratings for the stock with a price target of $25. Stock get an Overweight rating from Morgan Stanley on September 23, 2021.