Dada Nexus Limited (NASDAQ:DADA) Short Interest Update

Dada Nexus Limited (NASDAQ:DADA) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 2,000,000 shares, a growth of 14.9% from the December 15th total of 1,740,000 shares. Based on an average trading volume of 1,340,000 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DADA shares. Citigroup reduced their price target on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a research report on Friday, November 15th. Mizuho reduced their target price on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.70.

Dada Nexus Trading Up 3.1 %

Shares of DADA stock traded up $0.04 during trading hours on Friday, reaching $1.33. 1,177,703 shares of the company’s stock were exchanged, compared to its average volume of 913,361. The stock has a market cap of $345.53 million, a PE ratio of -1.20 and a beta of 1.36. The stock’s fifty day moving average price is $1.38 and its two-hundred day moving average price is $1.44. Dada Nexus has a 1 year low of $1.04 and a 1 year high of $2.83.

Institutional Investors Weigh In On Dada Nexus

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Dada Nexus during the 3rd quarter worth about $26,000. Wolverine Trading LLC purchased a new position in shares of Dada Nexus in the third quarter worth about $42,000. Quadrature Capital Ltd acquired a new stake in shares of Dada Nexus during the third quarter worth about $67,000. SG Americas Securities LLC purchased a new stake in Dada Nexus in the third quarter valued at approximately $126,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Dada Nexus in the second quarter valued at approximately $136,000. 59.25% of the stock is currently owned by institutional investors and hedge funds.

Dada Nexus Company Profile

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.