Dada Nexus Limited (NASDAQ:DADA) Sees Significant Increase in Short Interest

Dada Nexus Limited (NASDAQ:DADA) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,640,000 shares, an increase of 73.3% from the January 15th total of 2,100,000 shares. Based on an average daily volume of 1,850,000 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DADA shares. 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, November 15th. Mizuho cut their target price on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.70.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DADA. Rovida Investment Management Ltd bought a new position in Dada Nexus in the fourth quarter valued at $5,536,000. Leading Securities Co Ltd bought a new position in Dada Nexus in the fourth quarter valued at $1,298,000. Harvest Fund Management Co. Ltd grew its position in Dada Nexus by 7,106.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 912,664 shares of the company’s stock valued at $1,104,000 after purchasing an additional 900,000 shares in the last quarter. Marshall Wace LLP bought a new position in Dada Nexus in the fourth quarter valued at $490,000. Finally, Walleye Capital LLC grew its position in Dada Nexus by 267.2% in the fourth quarter. Walleye Capital LLC now owns 409,566 shares of the company’s stock valued at $496,000 after purchasing an additional 298,018 shares in the last quarter. Institutional investors own 59.25% of the company’s stock.

Dada Nexus Stock Up 1.6 %

Shares of NASDAQ:DADA traded up $0.03 during midday trading on Friday, reaching $1.88. 1,754,751 shares of the company were exchanged, compared to its average volume of 3,267,702. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $2.83. The stock has a fifty day simple moving average of $1.49 and a two-hundred day simple moving average of $1.48. The firm has a market cap of $488.42 million, a PE ratio of -1.69 and a beta of 1.41.

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.