Dada Nexus Limited (NASDAQ:DADA - Get Free Report) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 2,000,000 shares, a growth of 14.9% from the December 31st total of 1,740,000 shares. Based on an average daily volume of 1,340,000 shares, the days-to-cover ratio is currently 1.5 days.
Hedge Funds Weigh In On Dada Nexus
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DADA. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Dada Nexus during the third quarter worth $26,000. Wolverine Trading LLC acquired a new position in Dada Nexus in the third quarter valued at about $42,000. New York State Common Retirement Fund acquired a new position in Dada Nexus during the fourth quarter worth about $34,000. Quadrature Capital Ltd acquired a new position in Dada Nexus during the third quarter worth about $67,000. Finally, Marshall Wace LLP raised its stake in Dada Nexus by 7.5% during the second quarter. Marshall Wace LLP now owns 619,716 shares of the company's stock worth $781,000 after acquiring an additional 43,359 shares in the last quarter. 59.25% of the stock is owned by institutional investors.
Dada Nexus Price Performance
Shares of NASDAQ:DADA traded down $0.01 during midday trading on Friday, hitting $1.82. The stock had a trading volume of 1,892,380 shares, compared to its average volume of 2,828,135. Dada Nexus has a 12 month low of $1.04 and a 12 month high of $2.83. The business's 50-day simple moving average is $1.41 and its 200-day simple moving average is $1.44.
Wall Street Analyst Weigh In
DADA has been the topic of a number of analyst reports. Mizuho cut 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 report on Tuesday, November 12th. Citigroup dropped their target price on shares of Dada Nexus from $2.00 to $1.90 and set a "neutral" rating on the stock in a report on Friday, November 15th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $2.70.
Check Out Our Latest Research Report on DADA
Dada Nexus Company Profile
(
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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.
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