Short Interest in Dada Nexus Limited (NASDAQ:DADA) Decreases By 11.4%

Dada Nexus Limited (NASDAQ:DADA) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 2,180,000 shares, a decrease of 11.4% from the October 15th total of 2,460,000 shares. Based on an average daily volume of 1,980,000 shares, the short-interest ratio is presently 1.1 days.

Dada Nexus Trading Down 1.7 %

DADA traded down $0.03 on Tuesday, hitting $1.42. 59,761 shares of the stock were exchanged, compared to its average volume of 2,217,841. The business has a 50-day moving average of $1.63 and a two-hundred day moving average of $1.53. Dada Nexus has a 12 month low of $1.04 and a 12 month high of $4.12.

Dada Nexus (NASDAQ:DADA) last issued its quarterly earnings results on Tuesday, August 20th. The company reported ($0.09) EPS for the quarter. The business had revenue of $324.54 million for the quarter. Dada Nexus had a negative return on equity of 12.70% and a negative net margin of 20.95%.

Analyst Upgrades and Downgrades

DADA has been the subject of a number of research reports. Daiwa America upgraded Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. Daiwa Capital Markets assumed coverage on shares of Dada Nexus in a research report on Thursday, August 22nd. They set a “neutral” rating for the company. Citigroup dropped their price target on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a report on Friday. Finally, Mizuho reduced their target price on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.70.

Institutional Investors Weigh In On Dada Nexus

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in Dada Nexus during the 3rd quarter worth approximately $26,000. Virtu Financial LLC bought a new position in shares of Dada Nexus in the 1st quarter worth $28,000. Wolverine Trading LLC bought a new stake in Dada Nexus during the 3rd quarter valued at $42,000. Natixis bought a new position in shares of Dada Nexus in the first quarter valued at $51,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Dada Nexus during the third quarter worth about $67,000. Institutional investors and hedge funds own 59.25% of the company’s stock.

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.