Dada Nexus Limited (NASDAQ:DADA) Short Interest Update

Dada Nexus Limited (NASDAQ:DADA) was the target of a significant 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 daily volume of 1,980,000 shares, the short-interest ratio is currently 1.1 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DADA shares. Mizuho reduced their price target 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. Citigroup reduced their target price on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a report on Friday. Daiwa Capital Markets began coverage on shares of Dada Nexus in a research note on Thursday, August 22nd. They set a “neutral” rating on the stock. Finally, Daiwa America raised shares of Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Dada Nexus has a consensus rating of “Hold” and a consensus target price of $3.02.

Dada Nexus Stock Up 0.7 %

NASDAQ:DADA traded up $0.01 during trading hours on Friday, hitting $1.38. 1,020,015 shares of the stock traded hands, compared to its average volume of 1,203,314. The company has a market cap of $358.52 million, a price-to-earnings ratio of -1.24 and a beta of 1.39. Dada Nexus has a 1 year low of $1.04 and a 1 year high of $4.12. The stock has a 50 day moving average price of $1.62 and a 200 day moving average price of $1.54.

Dada Nexus (NASDAQ:DADA) last announced its quarterly earnings data 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 institutional investors and hedge funds have recently bought and sold shares of DADA. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Dada Nexus during the third quarter worth about $26,000. Virtu Financial LLC bought a new position in Dada Nexus in the 1st quarter worth approximately $28,000. Wolverine Trading LLC bought a new position in Dada Nexus in the 3rd quarter worth approximately $42,000. Natixis purchased a new stake in Dada Nexus during the 1st quarter valued at approximately $51,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Dada Nexus during the third quarter valued at approximately $67,000. 59.25% of the stock is owned by institutional investors.

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.