Market Analysts see Dada Nexus Limited [DADA] gaining to $10. Time to buy?

Dada Nexus Limited [NASDAQ: DADA] traded at a high on 12/22/22, posting a 2.98 gain after which it closed the day’ session at $7.61. The company report on December 21, 2022 that JDDJ and JD Shop Now provide football fans with high quality on-demand shopping experience.

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JDDJ and JD Shop Now have rolled out food and beverage packages for Chinese football fans, making it easier for them to place orders on the two platforms during the world’s biggest football tournament by providing them with instant shopping and delivery services.

Data shows that from Nov.21 to Dec.11, orders placed on JDDJ and JD Shop Now during the nighttime hours accounted for nearly 30 per cent of the platforms’ total, boosting sales of several categories of products, including alcoholic beverages, snacks, fresh foods and football-related merchandise.

The results of the trading session contributed to over 2339678 shares changing hands. Over the past one week, the price volatility of Dada Nexus Limited stands at 8.46% while the volatility over the past one month is 10.65%.

The market cap for DADA stock reached $1.89 billion, with 257.23 million shares outstanding and 251.76 million shares in the current float. Compared to the average trading volume of 1.19M shares, DADA reached a trading volume of 2339678 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $10.20 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 1.50. 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.

JP Morgan have made an estimate for Dada Nexus Limited shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 16, 2022. The new note on the price target was released on March 14, 2022, representing the official price target for Dada Nexus Limited stock. Previously, the target price had yet another drop from $25 to $17.50, while Credit Suisse kept a Outperform rating on DADA stock.

The Average True Range (ATR) for Dada Nexus Limited is set at 0.74, with the Price to Sales ratio for DADA stock in the period of the last 12 months amounting to 1.51. The Price to Book ratio for the last quarter was 1.85, with the Price to Cash per share for the same quarter was set at 2.88.

How has DADA stock performed recently?

Dada Nexus Limited [DADA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.26. With this latest performance, DADA shares gained by 75.35% in over the last four-week period, additionally sinking by -13.91% over the last 6 months – not to mention a drop of -45.99% in the past year of trading.

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 63.00, with the RSI for the last a single of trading hit 61.77, and the three-weeks RSI is set at 62.40 for Dada Nexus Limited [DADA]. The present Moving Average for the last 50 days of trading for this stock 5.12, while it was recorded at 7.50 for the last single week of trading, and 6.67 for the last 200 days.

Dada Nexus Limited [DADA]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Dada Nexus Limited [DADA] shares currently have an operating margin of -38.96 and a Gross Margin at +23.14. Dada Nexus Limited’s Net Margin is presently recorded at -35.99.

Return on Equity for this stock declined to -45.91, with Return on Assets sitting at -33.49.

Dada Nexus Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 3.10.

Insider trade positions for Dada Nexus Limited [DADA]

There are presently around $361 million, or 19.10% of DADA stock, in the hands of institutional investors. The top three institutional holders of DADA stocks are: JPMORGAN CHASE & CO with ownership of 9,700,959, which is approximately -1.975% of the company’s market cap and around 2.71% of the total institutional ownership; GALILEO (PTC) LTD, holding 6,732,416 shares of the stock with an approximate value of $51.23 million in DADA stocks shares; and ROVIDA ADVISORS INC., currently with $35.11 million in DADA stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Dada Nexus Limited stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 33 institutional holders increased their position in Dada Nexus Limited [NASDAQ:DADA] by around 4,533,261 shares. Additionally, 63 investors decreased positions by around 8,896,352 shares, while 10 investors held positions by with 33,971,304 shares. The mentioned changes placed institutional holdings at 47,400,917 shares, according to the latest SEC report filing. DADA stock had 11 new institutional investments in for a total of 2,674,163 shares, while 26 institutional investors sold positions of 4,195,168 shares during the same period.


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