Dada Nexus Limited (NASDAQ:DADA) Short Interest Up 73.3% in January

Dada Nexus Limited (NASDAQ:DADA) saw 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 trading volume of 1,850,000 shares, the short-interest ratio is currently 2.0 days.

Dada Nexus Stock Performance

Shares of DADA traded up $0.03 during trading hours on Friday, hitting $1.88. The stock had a trading volume of 1,754,751 shares, compared to its average volume of 3,267,702. Dada Nexus has a 12-month low of $1.04 and a 12-month high of $2.83. The firm has a market cap of $488.42 million, a P/E ratio of -1.69 and a beta of 1.41. The company’s fifty day simple moving average is $1.49 and its 200 day simple moving average is $1.48.

Wall Street Analyst Weigh In

DADA has been the subject of a number of recent analyst reports. Citigroup lowered their price objective 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 decreased their price target on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.70.

Hedge Funds Weigh In On Dada Nexus

A number of large investors have recently modified their holdings of the company. Rovida Investment Management Ltd acquired a new stake in Dada Nexus during the 4th quarter worth approximately $5,536,000. Renaissance Technologies LLC increased its position in shares of Dada Nexus by 20.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,362,900 shares of the company’s stock worth $1,649,000 after acquiring an additional 232,100 shares in the last quarter. Prescott Group Capital Management L.L.C. raised its stake in shares of 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 acquiring an additional 198,000 shares during the period. Leading Securities Co Ltd acquired a new position in shares of Dada Nexus during the 4th quarter valued at $1,298,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Dada Nexus by 7,106.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 912,664 shares of the company’s stock valued at $1,104,000 after acquiring an additional 900,000 shares in the last quarter. 59.25% of the stock is currently owned by hedge funds and other institutional investors.

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.