Short Interest in Dada Nexus Limited (NASDAQ:DADA) Declines By 11.4%

Dada Nexus Limited (NASDAQ:DADA - Get Free Report) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 2,180,000 shares, a decrease 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 currently 1.1 days.

Dada Nexus Price Performance

DADA stock traded up $0.01 during mid-day trading 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 company has a market capitalization of $358.52 million, a price-to-earnings ratio of -1.24 and a beta of 1.39. Dada Nexus has a 52 week low of $1.04 and a 52 week high of $4.12. The stock has a 50 day simple moving average of $1.62 and a two-hundred day simple moving average of $1.54.

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

Institutional Trading of Dada Nexus

Hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Dada Nexus during the third quarter worth $26,000. Virtu Financial LLC bought a new stake in Dada Nexus in the 1st quarter valued at about $28,000. Wolverine Trading LLC acquired a new position in shares of Dada Nexus during the 3rd quarter worth approximately $42,000. Natixis bought a new position in shares of Dada Nexus during the first quarter worth approximately $51,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Dada Nexus in the third quarter valued at approximately $67,000. Institutional investors and hedge funds own 59.25% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Mizuho reduced their target price on Dada Nexus from $4.50 to $4.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. Daiwa America upgraded shares of Dada Nexus to a "hold" rating in a report on Thursday, August 22nd. Citigroup cut 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. Finally, Daiwa Capital Markets assumed coverage on shares of Dada Nexus in a research report on Thursday, August 22nd. They issued a "neutral" rating for the company. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $3.02.

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.