Dada Nexus Limited [DADA] Revenue clocked in at $558.30 million, up 173.98% YTD: What’s Next?

Dada Nexus Limited [NASDAQ: DADA] gained 30.46% or 10.23 points to close at $43.81 with a heavy trading volume of 3941782 shares. The company report on November 20, 2020 that Dada Announces Unaudited Third Quarter 2020 Financial Results.

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Dada Group (NASDAQ: DADA, “Dada” or the “Company”), China’s leading local on-demand delivery and retail platform, announced its unaudited financial results for the third quarter ended September 30, 2020.

Third Quarter 2020 Highlights.

If we look at the average trading volume of 1.22M shares, DADA reached to a volume of 3941782 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $35.63 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 1.40. 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.

Goldman have made an estimate for Dada Nexus Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 11, 2020. While these analysts kept the previous recommendation, New Street raised their target price to Buy. The new note on the price target was released on October 30, 2020, representing the official price target for Dada Nexus Limited stock.

The Average True Range (ATR) for Dada Nexus Limited is set at 3.40, with the Price to Sales ratio for DADA stock in the period of the last 12 months amounting to 13.51.

Trading performance analysis for DADA stock

Dada Nexus Limited [DADA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 27.65.

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 68.97, with the RSI for the last a single of trading hit 73.14, and the three-weeks RSI is set at 65.36 for Dada Nexus Limited [DADA]. The present Moving Average for the last 50 days of trading for this stock 30.97, while it was recorded at 35.26 for the last single week of trading.

Dada Nexus Limited [DADA]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Dada Nexus Limited [DADA]

There are presently around $1,489 million, or 15.60% 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 0% of the company’s market cap and around 1.99% of the total institutional ownership; ROVIDA ADVISORS INC., holding 5,408,311 shares of the stock with an approximate value of $236.94 million in DADA stocks shares; and JPMORGAN CHASE & CO, currently with $102.76 million in DADA stock with ownership of nearly 240.229% of the company’s market capitalization.

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34 institutional holders increased their position in Dada Nexus Limited [NASDAQ:DADA] by around 5,587,029 shares. Additionally, 22 investors decreased positions by around 3,742,981 shares, while 4 investors held positions by with 24,667,714 shares. The mentioned changes placed institutional holdings at 33,997,724 shares, according to the latest SEC report filing. DADA stock had 17 new institutional investments in for a total of 2,204,944 shares, while 14 institutional investors sold positions of 800,866 shares during the same period.

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