Dada Nexus Limited (NASDAQ:DADA) Short Interest Down 37.2% in May

Dada Nexus Limited (NASDAQ:DADA) was the recipient of a large decrease in short interest in May. As of May 31st, there was short interest totalling 6,070,000 shares, a decrease of 37.2% from the May 15th total of 9,670,000 shares. Approximately 2.6% of the company’s stock are sold short. Based on an average trading volume of 2,600,000 shares, the short-interest ratio is currently 2.3 days.

Dada Nexus Trading Up 0.3%

Shares of Dada Nexus stock opened at $1.99 on Monday. Dada Nexus has a 1 year low of $1.04 and a 1 year high of $2.52. The stock has a 50-day moving average price of $1.97 and a 200 day moving average price of $1.76. The company has a market cap of $512.62 million, a P/E ratio of -1.79 and a beta of 1.33.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its position in Dada Nexus by 1,362.9% in the 4th quarter. Bank of America Corp DE now owns 2,326,212 shares of the company’s stock worth $2,815,000 after purchasing an additional 2,167,196 shares during the last quarter. New York State Common Retirement Fund acquired a new position in Dada Nexus in the 4th quarter worth about $34,000. Harvest Fund Management Co. Ltd increased its position in Dada Nexus by 7,106.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 912,664 shares of the company’s stock worth $1,104,000 after purchasing an additional 900,000 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Dada Nexus by 472.8% in the 4th quarter. Geode Capital Management LLC now owns 62,858 shares of the company’s stock valued at $76,000 after acquiring an additional 51,884 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Dada Nexus in the 4th quarter valued at approximately $46,000. 59.25% of the stock is owned by institutional investors and hedge funds.

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.