JPMorgan Investment Management, I recently announced the acquisition of new stake in Dada Nexus Limited (NASDAQ:DADA). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.51% to 7.54 million shares with purchase of 0.11 million shares. This fresh investment now brings its stake to 2.92% valued currently at $67.59 million. In addition, Baillie Gifford & Co. raised its holdings by 2.58 million to 7.12 million shares.
With over 3.27 million Dada Nexus Limited (DADA) shares trading Friday and a closing price of $8.62 on the day, the dollar volume was approximately $28.22 million. The shares have shown a positive half year performance of 48.62% and its price on 03/10/23 lost nearly -3.69%. Currently, there are 255.37M common shares owned by the public and among those 247.64M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for DADA have a consensus price objective of $116.68. The analysts have set the share’s price value over the next 12 months at a high of $139.38 and a low of $85.02. The average price target is 38.21% above its recent price level and an upside to the estimated low will see the stock gain 89.86% over that period. But an upside of 93.82% will see the stock hit the forecast high price target while median target price for the stock is $118.37.
The top 3 mutual fund holders in Dada Nexus Limited are JPMorgan Emerging Markets Equity, KraneShares CSI China Internet ET, and JPMorgan Funds – Emerging Markets. JPMorgan Emerging Markets Equity owns 3.38 million shares of the company’s stock, all valued at over $30.28 million. KraneShares CSI China Internet ET sold 18194.0 shares to see its total holdings shrink to 3.32 million shares valued at over $29.76 million and representing 1.28% of the shares outstanding. JPMorgan Funds – Emerging Markets now owns shares totaling to 1.17% of the shares outstanding.
Shares of Dada Nexus Limited (NASDAQ: DADA) opened at $8.86, down -$0.09 from a prior closing price of $8.95. However, the script later moved the day high at 9.01, down -3.69%. The company’s stock has a 5-day price change of -19.36% and 23.50% over the past three months. DADA shares are trading 23.67% year to date (YTD), with the 12-month market performance up to 6.42% higher. It has a 12-month low price of $2.98 and touched a high of $15.59 over the same period. DADA has an average intraday trading volume of 2.09 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -17.18%, -25.59%, and 14.24% respectively.
Institutional ownership of Dada Nexus Limited (NASDAQ: DADA) shares accounts for 19.10% of the company’s 255.37M shares outstanding. Mutual fund holders own 10.94%, while other institutional holders and individual stakeholders account for 9.15% and — respectively.
It has a market capitalization of $2.29B. The earnings-per-share (ttm) stands at -$1.16. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.29% over the week and 6.43% over the month.
Analysts forecast that Dada Nexus Limited (DADA) will achieve an EPS of -$0.12 for the current quarter, -$0.05 for the next quarter and $0.22 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.14 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was -$0.31 a year ago. Earnings per share for the fiscal year are expected to increase by 23.90%, and 446.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Dada Nexus Limited (DADA) as a “Strong Buy” at a consensus score of 1.40. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 0 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DADA, a number of firms have released research notes about the stock. JP Morgan stated their Overweight rating for the stock in a research note on May 16, 2022, with the firm’s price target at $7.50-$10. JP Morgan coverage for the Dada Nexus Limited (DADA) stock in a research note released on March 14, 2022 offered a Neutral rating with a price target of $7.50. Credit Suisse was of a view on March 09, 2022 that the stock is Outperform, while Mizuho gave the stock Buy rating on January 14, 2022, issuing a price target of $25. Morgan Stanley on their part issued Overweight rating on September 23, 2021.
