Dada Nexus Limited (NASDAQ:DADA) Short Interest Update

Dada Nexus Limited (NASDAQ:DADA - Get Free Report) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 2,000,000 shares, a growth of 14.9% from the December 15th total of 1,740,000 shares. Based on an average trading volume of 1,340,000 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DADA shares. Citigroup reduced 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. 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 report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $2.70.

Dada Nexus Trading Up 3.1 %

Shares of DADA stock traded up $0.04 during trading hours on Friday, reaching $1.33. 1,177,703 shares of the company's stock were exchanged, compared to its average volume of 913,361. The stock has a market cap of $345.53 million, a PE ratio of -1.20 and a beta of 1.36. The stock's fifty day moving average price is $1.38 and its two-hundred day moving average price is $1.44. Dada Nexus has a 1 year low of $1.04 and a 1 year high of $2.83.

Institutional Investors Weigh In On Dada Nexus

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Dada Nexus during the 3rd quarter worth about $26,000. Wolverine Trading LLC purchased a new position in shares of Dada Nexus in the third quarter worth about $42,000. Quadrature Capital Ltd acquired a new stake in shares of Dada Nexus during the third quarter worth about $67,000. SG Americas Securities LLC purchased a new stake in Dada Nexus in the third quarter valued at approximately $126,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Dada Nexus in the second quarter valued at approximately $136,000. 59.25% of the stock is currently owned by institutional investors and hedge funds.

Dada Nexus Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.