Dada Nexus Limited [NASDAQ: DADA] price surged by 1.72 percent to reach at $0.12. The company report on March 15, 2023 that DADA Now’s Automobile Delivery Service Fulfills 3.3 million orders in 60 cities Across China.
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The on-demand delivery service platform from Dada Group (Nasdaq: DADA) (“Dada”), Dada Now, has recently launched an automobile delivery service, to better support small and medium enterprises (SMEs).
To date, the automobile delivery service has been launched in more than 60 cities nationwide, including Beijing, Harbin, Fuzhou, Changsha, Hefei and Shanghai, among others. The accumulated number of fulfilled orders has reached over 3.3 million, and the total delivery mileage has exceeded 38 million kilometers.
A sum of 3313825 shares traded at recent session while its average daily volume was at 2.15M shares. Dada Nexus Limited shares reached a high of $7.16 and dropped to a low of $6.61 until finishing in the latest session at $7.11.
The one-year DADA stock forecast points to a potential upside of 49.03. The average equity rating for DADA stock is currently 1.40, trading closer to a bullish pattern in the stock market.
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 $13.95 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.
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 0.81, with the Price to Sales ratio for DADA stock in the period of the last 12 months amounting to 1.40. The Price to Book ratio for the last quarter was 1.80, with the Price to Cash per share for the same quarter was set at 2.13.
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 -20.56. With this latest performance, DADA shares dropped by -40.25% in over the last four-week period, additionally plugging by 23.87% over the last 6 months – not to mention a rise of 20.71% 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 28.43, with the RSI for the last a single of trading hit 21.69, and the three-weeks RSI is set at 34.49 for Dada Nexus Limited [DADA]. The present Moving Average for the last 50 days of trading for this stock 11.62, while it was recorded at 7.69 for the last single week of trading, and 7.58 for the last 200 days.
Insight into Dada Nexus Limited Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Dada Nexus Limited [DADA] shares currently have an operating margin of -23.09 and a Gross Margin at +43.69. Dada Nexus Limited’s Net Margin is presently recorded at -21.44.
Return on Equity for this stock declined to -37.24, with Return on Assets sitting at -28.00.
Dada Nexus Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 3.20.
Dada Nexus Limited [DADA] Insider Position Details
There are presently around $405 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 9,625,103, which is approximately -0.782% of the company’s market cap and around 2.95% of the total institutional ownership; BAILLIE GIFFORD & CO, holding 7,123,218 shares of the stock with an approximate value of $50.65 million in DADA stocks shares; and KAIZEN CAPITAL PARTNERS LTD, currently with $47.57 million in DADA stock with ownership of nearly New of the company’s market capitalization.
48 institutional holders increased their position in Dada Nexus Limited [NASDAQ:DADA] by around 14,551,636 shares. Additionally, 42 investors decreased positions by around 4,121,337 shares, while 5 investors held positions by with 38,252,042 shares. The mentioned changes placed institutional holdings at 56,925,015 shares, according to the latest SEC report filing. DADA stock had 17 new institutional investments in for a total of 8,191,878 shares, while 15 institutional investors sold positions of 1,012,643 shares during the same period.