Dada Nexus Limited (NASDAQ:DADA) Short Interest Update

Dada Nexus Limited (NASDAQ:DADA) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 2,960,000 shares, a drop of 6.3% from the July 15th total of 3,160,000 shares. Based on an average daily volume of 1,480,000 shares, the short-interest ratio is presently 2.0 days.

Institutional Investors Weigh In On Dada Nexus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DADA. Jump Financial LLC acquired a new position in shares of Dada Nexus during the 4th quarter worth about $42,000. Virtu Financial LLC bought a new stake in Dada Nexus during the first quarter worth about $28,000. Natixis acquired a new position in Dada Nexus during the first quarter valued at approximately $51,000. Headlands Technologies LLC boosted its position in Dada Nexus by 615.5% during the first 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 during the last quarter. Finally, Fore Capital LLC bought a new position in Dada Nexus in the first quarter valued at approximately $92,000. 59.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DADA shares. Daiwa America cut shares of Dada Nexus from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, May 16th. Mizuho reduced their target price on Dada Nexus from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. The Goldman Sachs Group began coverage on Dada Nexus in a report on Thursday, April 25th. They issued a “neutral” rating and a $2.10 price target for the company. Finally, Daiwa Capital Markets lowered Dada Nexus from a “buy” rating to a “neutral” rating in a research report on Thursday, May 16th. One 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 MarketBeat, Dada Nexus has an average rating of “Hold” and a consensus target price of $3.66.

Dada Nexus Stock Down 3.6 %

NASDAQ DADA opened at $1.32 on Wednesday. Dada Nexus has a 12-month low of $1.21 and a 12-month high of $5.82. The firm’s 50 day moving average is $1.38 and its 200-day moving average is $1.79. The company has a market capitalization of $349.19 million, a PE ratio of -1.03 and a beta of 1.34.

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.