Dada Nexus Limited [NASDAQ: DADA] stock went on a downward path that fall over -15.08% on Tuesday, amounting to a one-week price decrease of less than -8.75%. The company report on November 2, 2020 that Dada Group Partners with Pagoda to Enhance One-Hour Fruit Delivery.
Dada Group (Dada Nexus, Nasdaq: DADA) (“Dada” or the “Company”), China’s leading local on-demand retail and delivery platform, today announced that more than 500 Pagoda stores have partnered with Dada Now, the on-demand delivery platform of Dada Group, to provide omni-channel order delivery. The number of Dada-Pagoda partnered stores is expected to reach 2,000 by the end of the year.
In June 2020, Dada Now reached its initial partnership agreement with Pagoda, a well-known fresh fruit chain retailer in China, to provide secure and efficient on-demand delivery service for Pagoda’s omni-channel orders. Dada Now’s dedicated delivery service is designed to serve chain merchants across China by providing them with customized service and products, meeting their tailored needs for omni-channel delivery. To date, Dada now has served McDonald’s, KFC, Kungfu, Pagoda, Champion Pizza, Quanyuantang, and other notable chain retailers, covering more than 2,500 cities and counties across China.
The one-year Dada Nexus Limited stock forecast points to a potential upside of 19.79. The average equity rating for DADA stock is currently 1.60, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $6.43 billion, with 229.19 million shares outstanding and 220.13 million shares in the current float. Compared to the average trading volume of 1.08M shares, DADA stock reached a trading volume of 2792116 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Dada Nexus Limited [DADA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DADA shares is $34.96 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DADA stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
New Street have made an estimate for Dada Nexus Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 30, 2020. The new note on the price target was released on October 27, 2020, representing the official price target for Dada Nexus Limited stock. Previously, the target price had yet another raise to $34, while Morgan Stanley analysts kept a Overweight rating on DADA stock.
The Average True Range (ATR) for Dada Nexus Limited is set at 3.01, with the Price to Sales ratio for DADA stock in the period of the last 12 months amounting to 11.55.
DADA Stock Performance Analysis:
Dada Nexus Limited [DADA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.75.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DADA stock in for the last two-week period is set at 41.16, with the RSI for the last a single of trading hit 35.33, and the three-weeks RSI is set at 45.01 for Dada Nexus Limited [DADA]. The present Moving Average for the last 50 days of trading for this stock 29.25, while it was recorded at 33.67 for the last single week of trading.
Insight into Dada Nexus Limited Fundamentals:
Dada Nexus Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 2.50.
Dada Nexus Limited [DADA] Insider Position Details
There are presently around $906 million, or 15.00% of DADA stock, in the hands of institutional investors. The top three institutional holders of DADA stocks are: GALILEO (PTC) LTD with ownership of 19,020,667, which is approximately New of the company’s market cap and around 1.99% of the total institutional ownership; ROVIDA ADVISORS INC., holding 4,966,854 shares of the stock with an approximate value of $139.27 million in DADA stocks shares; and BANK OF AMERICA CORP /DE/, currently with $66.56 million in DADA stock with ownership of nearly New of the company’s market capitalization.
42 institutional holders increased their position in Dada Nexus Limited [NASDAQ:DADA] by around 31,408,214 shares. Additionally, 3 investors decreased positions by around 62,100 shares, while 0 investors held positions by with 850,450 shares. The mentioned changes placed institutional holdings at 32,320,764 shares, according to the latest SEC report filing. DADA stock had 38 new institutional investments in for a total of 31,297,097 shares, while 3 institutional investors sold positions of 62,100 shares during the same period.