Short Interest in Dada Nexus Limited (NASDAQ:DADA) Declines By 6.2%

Dada Nexus Limited (NASDAQ:DADA) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 3,640,000 shares, a decline of 6.2% from the August 15th total of 3,880,000 shares. Based on an average daily trading volume, of 1,210,000 shares, the short-interest ratio is presently 3.0 days.

Institutional Investors Weigh In On Dada Nexus

A number of large investors have recently added to or reduced their stakes in DADA. Virtu Financial LLC acquired a new stake in Dada Nexus in the 1st quarter valued at about $28,000. Jump Financial LLC acquired a new stake in shares of Dada Nexus during the 4th quarter worth about $42,000. Natixis acquired a new stake in shares of Dada Nexus during the 1st quarter worth about $51,000. Headlands Technologies LLC boosted its stake in shares of Dada Nexus by 615.5% during the 1st quarter. Headlands Technologies LLC now owns 40,643 shares of the company’s stock worth $83,000 after purchasing an additional 34,963 shares during the last quarter. Finally, Fore Capital LLC purchased a new position in shares of Dada Nexus during the 1st quarter worth about $92,000. 59.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Daiwa Capital Markets assumed coverage on Dada Nexus in a report on Thursday, August 22nd. They issued a “neutral” rating on the stock. Citigroup raised Dada Nexus from a “sell” rating to a “neutral” rating and boosted their target price for the company from $1.00 to $1.50 in a report on Wednesday, August 21st. Mizuho dropped their target price on Dada Nexus from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Finally, Daiwa America raised Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Dada Nexus has a consensus rating of “Hold” and an average price target of $3.35.

Dada Nexus Trading Down 1.9 %

Shares of DADA traded down $0.03 during trading hours on Wednesday, reaching $1.27. The company had a trading volume of 763,520 shares, compared to its average volume of 2,182,158. The firm has a 50 day simple moving average of $1.26 and a 200-day simple moving average of $1.67. The company has a market capitalization of $334.64 million, a price-to-earnings ratio of -1.01 and a beta of 1.33. Dada Nexus has a 12-month low of $1.04 and a 12-month high of $4.98.

Dada Nexus (NASDAQ:DADA) last announced its quarterly earnings results on Tuesday, August 20th. The company reported ($0.09) earnings per share (EPS) for the quarter. The company had revenue of $324.54 million during the quarter. Dada Nexus had a negative net margin of 19.81% and a negative return on equity of 10.94%.

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.