Dada Nexus Limited (NASDAQ:DADA) Short Interest Update

Dada Nexus Limited (NASDAQ:DADA) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 2,180,000 shares, a decline 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 days-to-cover ratio is presently 1.1 days.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Daiwa America upgraded Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets initiated coverage on Dada Nexus in a research report on Thursday, August 22nd. They set a “neutral” rating for the company. Citigroup cut 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. Finally, Mizuho decreased their price target on shares of 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Dada Nexus has an average rating of “Hold” and a consensus price target of $3.02.

Hedge Funds Weigh In On Dada Nexus

Large investors have recently made changes to their positions in the company. Jane Street Group LLC raised its position in Dada Nexus by 45.5% in the 3rd quarter. Jane Street Group LLC now owns 235,666 shares of the company’s stock worth $448,000 after purchasing an additional 73,720 shares during the period. Wolverine Trading LLC purchased a new stake in shares of Dada Nexus in the third quarter valued at approximately $42,000. Quadrature Capital Ltd bought a new position in shares of Dada Nexus during the 3rd quarter worth $67,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Dada Nexus during the 3rd quarter worth about $26,000. Finally, SG Americas Securities LLC purchased a new position in Dada Nexus during the third quarter valued at approximately $126,000. 59.25% of the stock is owned by hedge funds and other institutional investors.

Dada Nexus Price Performance

Shares of Dada Nexus stock traded up $0.01 on Friday, reaching $1.38. The company had a trading volume of 1,020,015 shares, compared to its average volume of 1,203,314. The firm has a market cap of $358.52 million, a price-to-earnings ratio of -1.24 and a beta of 1.39. The firm’s 50-day moving average price is $1.62 and its two-hundred day moving average price is $1.54. Dada Nexus has a 1 year low of $1.04 and a 1 year high of $4.12.

Dada Nexus (NASDAQ:DADA) last issued its quarterly earnings results on Tuesday, August 20th. The company reported ($0.09) earnings per share (EPS) for the quarter. Dada Nexus had a negative return on equity of 12.39% and a negative net margin of 20.95%. The company had revenue of $324.54 million during the quarter.

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.