Dada Nexus Limited (NASDAQ:DADA - Get Free Report) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 3,640,000 shares, a growth of 73.3% from the January 15th total of 2,100,000 shares. Based on an average daily trading volume, of 1,850,000 shares, the days-to-cover ratio is currently 2.0 days.
Dada Nexus Trading Up 1.6 %
DADA stock traded up $0.03 during trading on Monday, hitting $1.88. The company had a trading volume of 1,754,751 shares, compared to its average volume of 3,267,702. The company has a fifty day moving average price of $1.49 and a two-hundred day moving average price of $1.48. The company has a market cap of $488.42 million, a P/E ratio of -1.69 and a beta of 1.41. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $2.83.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on DADA shares. Mizuho lowered 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. Citigroup lowered their target price on Dada Nexus from $2.00 to $1.90 and set a "neutral" rating on the stock in a report on Friday, November 15th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $2.70.
Read Our Latest Stock Report on Dada Nexus
Institutional Trading of Dada Nexus
Several institutional investors have recently bought and sold shares of the stock. Rovida Investment Management Ltd acquired a new stake in Dada Nexus in the 4th quarter valued at $5,536,000. Bank of America Corp DE raised 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 valued at $2,815,000 after purchasing an additional 2,167,196 shares during the last quarter. Renaissance Technologies LLC raised its position in Dada Nexus by 20.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,362,900 shares of the company's stock valued at $1,649,000 after purchasing an additional 232,100 shares during the last quarter. Prescott Group Capital Management L.L.C. raised its position in Dada Nexus by 17.2% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 1,347,334 shares of the company's stock valued at $1,630,000 after purchasing an additional 198,000 shares during the last quarter. Finally, Leading Securities Co Ltd bought a new position in Dada Nexus in the 4th quarter valued at $1,298,000. Institutional investors and hedge funds own 59.25% of the company's stock.
Dada Nexus Company Profile
(
Get Free Report)
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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