Dada Nexus Limited (NASDAQ:DADA) Short Interest Update

Dada Nexus Limited (NASDAQ:DADA) was the recipient of a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 2,950,000 shares, a decline of 19.0% from the January 31st total of 3,640,000 shares. Based on an average daily volume of 1,910,000 shares, the short-interest ratio is currently 1.5 days.

Dada Nexus Stock Performance

Shares of DADA stock traded up $0.01 during trading hours on Tuesday, hitting $1.86. 541,861 shares of the company were exchanged, compared to its average volume of 1,796,155. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $2.83. The company has a 50 day simple moving average of $1.59 and a two-hundred day simple moving average of $1.52. The firm has a market cap of $480.75 million, a P/E ratio of -1.67 and a beta of 1.41.

Analyst Ratings Changes

A number of equities research analysts have recently commented on DADA shares. Mizuho reduced their price objective on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Citigroup cut their price target on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $2.50.

Institutional Investors Weigh In On Dada Nexus

A number of large investors have recently bought and sold shares of DADA. JPMorgan Chase & Co. boosted its position in shares of Dada Nexus by 219.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 224,866 shares of the company’s stock worth $427,000 after purchasing an additional 154,460 shares in the last quarter. Jane Street Group LLC raised its stake in Dada Nexus by 45.5% during the 3rd quarter. Jane Street Group LLC now owns 235,666 shares of the company’s stock worth $448,000 after buying an additional 73,720 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Dada Nexus in the third quarter worth approximately $26,000. GenTrust LLC acquired a new stake in Dada Nexus in the fourth quarter valued at approximately $33,000. Finally, Wolverine Trading LLC acquired a new position in shares of Dada Nexus during the third quarter worth approximately $42,000. 59.25% of the stock is currently owned by institutional investors and hedge funds.

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.