Short Interest in Dada Nexus Limited (NASDAQ:DADA) Declines By 18.4%

Dada Nexus Limited (NASDAQ:DADA) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 2,970,000 shares, a decrease of 18.4% from the August 31st total of 3,640,000 shares. Based on an average trading volume of 1,290,000 shares, the short-interest ratio is currently 2.3 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC bought a new stake in Dada Nexus during the second quarter valued at approximately $136,000. Marshall Wace LLP raised its holdings in Dada Nexus by 7.5% in the 2nd quarter. Marshall Wace LLP now owns 619,716 shares of the company’s stock worth $781,000 after purchasing an additional 43,359 shares during the period. Canada Pension Plan Investment Board grew its holdings in Dada Nexus by 202.3% during the second quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock valued at $779,000 after purchasing an additional 413,600 shares during the period. Renaissance Technologies LLC raised its stake in shares of Dada Nexus by 28.3% in the second quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock worth $2,170,000 after buying an additional 380,100 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Dada Nexus during the 2nd quarter valued at about $230,000. 59.25% of the stock is owned by hedge funds and other institutional investors.

Dada Nexus Stock Up 6.6 %

Shares of NASDAQ DADA traded up $0.12 during midday trading on Monday, hitting $1.93. The stock had a trading volume of 5,520,694 shares, compared to its average volume of 2,226,427. The business’s 50 day moving average is $1.26 and its 200-day moving average is $1.61. Dada Nexus has a 52 week low of $1.04 and a 52 week high of $4.98. The company has a market cap of $510.55 million, a P/E ratio of -1.58 and a beta of 1.33.

Dada Nexus (NASDAQ:DADA) last announced its quarterly earnings results on Tuesday, August 20th. The company reported ($0.09) EPS for the quarter. The company had revenue of $324.54 million during the quarter. Dada Nexus had a negative return on equity of 10.94% and a negative net margin of 19.81%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DADA shares. Daiwa America upgraded Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. Citigroup raised shares of Dada Nexus from a “sell” rating to a “neutral” rating and lifted their price target for the company from $1.00 to $1.50 in a research report on Wednesday, August 21st. Finally, Daiwa Capital Markets started coverage on shares of Dada Nexus in a report on Thursday, August 22nd. They issued a “neutral” rating on the stock. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.35.

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.