Dada Nexus Limited (NASDAQ:DADA) Short Interest Down 12.1% in November

Dada Nexus Limited (NASDAQ:DADA) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 1,880,000 shares, a drop of 12.1% from the November 15th total of 2,140,000 shares. Based on an average trading volume of 1,970,000 shares, the short-interest ratio is currently 1.0 days.

Dada Nexus Stock Performance

DADA traded down $0.04 on Friday, hitting $1.43. 867,684 shares of the company were exchanged, compared to its average volume of 2,134,601. The business’s fifty day moving average is $1.60 and its 200 day moving average is $1.47. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $3.67. The firm has a market capitalization of $371.52 million, a P/E ratio of -1.29 and a beta of 1.32.

Analyst Upgrades and Downgrades

DADA has been the topic of a number of recent analyst reports. Daiwa Capital Markets assumed coverage on shares of Dada Nexus in a research note on Thursday, August 22nd. They set a “neutral” rating on the stock. Daiwa America upgraded Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. 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, November 15th. Finally, Mizuho decreased their price target on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.70.

Institutional Investors Weigh In On Dada Nexus

A number of institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Dada Nexus during the third quarter worth $26,000. Wolverine Trading LLC purchased a new position in shares of Dada Nexus in the third quarter valued at $42,000. Quadrature Capital Ltd acquired a new position in shares of Dada Nexus during the 3rd quarter worth $67,000. SG Americas Securities LLC purchased a new stake in shares of Dada Nexus in the 3rd quarter worth about $126,000. Finally, Headlands Technologies LLC grew its stake in Dada Nexus by 111.2% in the 2nd quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock valued at $108,000 after acquiring an additional 45,192 shares during the last quarter. Institutional investors and hedge funds own 59.25% of the company’s stock.

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.