Short Interest in Dada Nexus Limited (NASDAQ:DADA) Decreases By 7.6%

Dada Nexus Limited (NASDAQ:DADA) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 3,160,000 shares, a decrease of 7.6% from the June 30th total of 3,420,000 shares. Based on an average daily volume of 1,650,000 shares, the short-interest ratio is currently 1.9 days.

Dada Nexus Price Performance

Shares of DADA stock traded down $0.06 during trading on Thursday, reaching $1.26. The company had a trading volume of 1,134,445 shares, compared to its average volume of 2,413,356. The company has a market capitalization of $333.32 million, a PE ratio of -0.98 and a beta of 1.34. The firm’s 50 day simple moving average is $1.48 and its two-hundred day simple moving average is $1.85. Dada Nexus has a one year low of $1.25 and a one year high of $6.38.

Dada Nexus (NASDAQ:DADA) last issued its earnings results on Wednesday, May 15th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). Dada Nexus had a negative return on equity of 14.73% and a negative net margin of 22.77%. The company had revenue of $342.43 million during the quarter, compared to analyst estimates of $427.89 million.

Institutional Investors Weigh In On Dada Nexus

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in Dada Nexus by 170.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 21,338 shares of the company’s stock worth $71,000 after buying an additional 13,447 shares during the last quarter. Headlands Technologies LLC increased its holdings in Dada Nexus by 615.5% during the 1st quarter. Headlands Technologies LLC now owns 40,643 shares of the company’s stock valued at $83,000 after purchasing an additional 34,963 shares in the last quarter. ABS Direct Equity Fund LLC acquired a new stake in Dada Nexus during the 4th quarter valued at $667,000. Natixis acquired a new position in Dada Nexus in the first quarter worth $51,000. Finally, Jump Financial LLC acquired a new position in Dada Nexus in the fourth quarter worth $42,000. Institutional investors own 59.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on DADA. The Goldman Sachs Group initiated coverage on shares of Dada Nexus in a research report on Thursday, April 25th. They issued a “neutral” rating and a $2.10 target price for the company. Daiwa America downgraded Dada Nexus from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, May 16th. Mizuho dropped their target price on Dada Nexus from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Finally, Daiwa Capital Markets lowered Dada Nexus from a “buy” rating to a “neutral” rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.66.

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.