Dada Nexus Limited (NASDAQ:DADA) Short Interest Update

Dada Nexus Limited (NASDAQ:DADA) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 2,000,000 shares, a growth of 14.9% from the December 15th total of 1,740,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is currently 1.5 days.

Dada Nexus Stock Up 3.1 %

Shares of NASDAQ DADA traded up $0.04 during trading on Friday, hitting $1.33. The company had a trading volume of 1,177,703 shares, compared to its average volume of 913,361. 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 $1.38 and a two-hundred day simple moving average of $1.44. The firm has a market capitalization of $345.53 million, a price-to-earnings ratio of -1.20 and a beta of 1.36.

Institutional Investors Weigh In On Dada Nexus

Several institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its position in shares of Dada Nexus by 28.3% in the second quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company’s stock valued at $2,170,000 after acquiring an additional 380,100 shares in the last quarter. Marshall Wace LLP raised its stake in Dada Nexus by 7.5% in the 2nd quarter. Marshall Wace LLP now owns 619,716 shares of the company’s stock valued at $781,000 after purchasing an additional 43,359 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Dada Nexus by 202.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock valued at $779,000 after purchasing an additional 413,600 shares in the last quarter. Jane Street Group LLC boosted 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 purchasing an additional 73,720 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Dada Nexus by 219.4% during the third quarter. JPMorgan Chase & Co. now owns 224,866 shares of the company’s stock worth $427,000 after buying an additional 154,460 shares in the last quarter. 59.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DADA has been the topic of a number of recent analyst reports. Mizuho lowered their price target 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. Citigroup decreased their price objective on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a research report on Friday, November 15th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Dada Nexus presently has a consensus rating of “Hold” and an average price target of $2.70.

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.