Dada Nexus Limited (NASDAQ:DADA) Short Interest Update

Dada Nexus Limited (NASDAQ:DADA) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 2,180,000 shares, a drop of 11.4% from the October 15th total of 2,460,000 shares. Based on an average trading volume of 1,980,000 shares, the short-interest ratio is currently 1.1 days.

Dada Nexus Stock Performance

Shares of DADA traded up $0.06 during mid-day trading on Monday, reaching $1.44. The stock had a trading volume of 1,514,675 shares, compared to its average volume of 2,227,140. The business has a fifty day moving average of $1.62 and a 200 day moving average of $1.53. The firm has a market cap of $374.11 million, a price-to-earnings ratio of -1.24 and a beta of 1.39. Dada Nexus has a 12 month low of $1.04 and a 12 month high of $4.12.

Dada Nexus (NASDAQ:DADA) last announced its quarterly earnings results on Tuesday, August 20th. The company reported ($0.09) EPS for the quarter. The firm had revenue of $324.54 million for the quarter. Dada Nexus had a negative net margin of 20.95% and a negative return on equity of 12.39%.

Institutional Investors Weigh In On Dada Nexus

A number of hedge funds have recently bought and sold shares of DADA. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Dada Nexus in the 3rd quarter worth $26,000. Virtu Financial LLC bought a new position in shares of Dada Nexus during the first quarter valued at approximately $28,000. EntryPoint Capital LLC grew its holdings in shares of Dada Nexus by 69.6% in the first quarter. EntryPoint Capital LLC now owns 55,899 shares of the company’s stock worth $115,000 after purchasing an additional 22,936 shares during the last quarter. Wolverine Trading LLC purchased a new position in shares of Dada Nexus during the third quarter worth approximately $42,000. Finally, Natixis bought a new stake in Dada Nexus during the 1st quarter valued at $51,000. Hedge funds and other institutional investors own 59.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Daiwa America upgraded Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. Mizuho dropped their target price on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Daiwa Capital Markets started coverage on shares of Dada Nexus in a report on Thursday, August 22nd. They set a “neutral” rating on the stock. Finally, Citigroup reduced their price target on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a report on Friday. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Dada Nexus currently has a consensus rating of “Hold” and an average target price of $2.70.

About Dada Nexus

Dada Nexus Limited operates a platform of local on-demand retail and delivery in the People’s Republic of China. It operates Dada Now, a local on-demand delivery platform that provides intra-city delivery and last-mile delivery services on an on-demand basis to chain merchants, small- and medium-sized enterprise merchants, and individual senders; and JDDJ, a local on-demand retail platforms for consumers, retailers, and brand owners.