Dada Nexus Limited (NASDAQ:DADA) Short Interest Update

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

Dada Nexus Price Performance

DADA opened at $1.82 on Monday. The stock has a market capitalization of $472.84 million, a PE ratio of -1.64 and a beta of 1.36. Dada Nexus has a 12-month low of $1.04 and a 12-month high of $2.83. The firm’s fifty day moving average price is $1.41 and its 200 day moving average price is $1.44.

Institutional Investors Weigh In On Dada Nexus

Institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Dada Nexus in the 3rd quarter worth about $26,000. Wolverine Trading LLC bought a new stake in Dada Nexus during the 3rd quarter valued at $42,000. New York State Common Retirement Fund acquired a new position in Dada Nexus during the 4th quarter worth $34,000. Quadrature Capital Ltd bought a new position in shares of Dada Nexus in the third quarter worth $67,000. Finally, Marshall Wace LLP increased its holdings in shares of Dada Nexus by 7.5% during the second quarter. Marshall Wace LLP now owns 619,716 shares of the company’s stock valued at $781,000 after purchasing an additional 43,359 shares during the period. 59.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DADA has been the topic of several recent research reports. Mizuho decreased their price objective on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Citigroup decreased their target price on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a report on Friday, November 15th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $2.70.

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.