Dada Nexus Limited (NASDAQ:DADA) Sees Large Drop in Short Interest

Dada Nexus Limited (NASDAQ:DADA) saw a significant 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 daily volume of 1,970,000 shares, the short-interest ratio is presently 1.0 days.

Institutional Investors Weigh In On Dada Nexus

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

Dada Nexus Trading Up 3.2 %

DADA stock traded up $0.05 during trading on Tuesday, reaching $1.46. 479,721 shares of the stock were exchanged, compared to its average volume of 2,123,303. The business has a 50 day moving average price of $1.58 and a 200-day moving average price of $1.46. Dada Nexus has a 1 year low of $1.04 and a 1 year high of $3.67. The firm has a market capitalization of $378.02 million, a price-to-earnings ratio of -1.27 and a beta of 1.32.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DADA. Daiwa Capital Markets started coverage on shares of Dada Nexus in a research note on Thursday, August 22nd. They issued a “neutral” rating on the stock. Citigroup dropped 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. Daiwa America raised shares of Dada Nexus to a “hold” rating in a research note on Thursday, August 22nd. Finally, 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 research report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $2.70.

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.