Dada Nexus Limited (NASDAQ:DADA) Short Interest Update

Dada Nexus Limited (NASDAQ:DADA) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 4,210,000 shares, an increase of 7.4% from the March 15th total of 3,920,000 shares. Based on an average daily volume of 3,490,000 shares, the days-to-cover ratio is presently 1.2 days.

Analysts Set New Price Targets

DADA has been the subject of several recent research reports. Daiwa Capital Markets upgraded Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 price target for the company in a research report on Tuesday, February 20th. New Street Research reaffirmed a “neutral” rating and issued a $2.00 price target (down from $15.00) on shares of Dada Nexus in a research note on Wednesday, March 6th. Mizuho lowered their price target on Dada Nexus from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, January 17th. Finally, Citigroup lowered Dada Nexus from a “buy” rating to a “sell” rating in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $6.00.

Hedge Funds Weigh In On Dada Nexus

Several hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in Dada Nexus by 222.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,891 shares of the company’s stock valued at $35,000 after buying an additional 5,447 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Dada Nexus in the fourth quarter valued at about $41,000. Jump Financial LLC purchased a new position in Dada Nexus in the fourth quarter valued at about $42,000. Citigroup Inc. increased its position in shares of Dada Nexus by 69.5% during the fourth quarter. Citigroup Inc. now owns 7,756 shares of the company’s stock worth $54,000 after acquiring an additional 3,180 shares during the last quarter. Finally, Ethic Inc. purchased a new stake in shares of Dada Nexus during the fourth quarter worth about $55,000. 59.25% of the stock is owned by hedge funds and other institutional investors.

Dada Nexus Price Performance

Shares of DADA stock traded down $0.03 during trading hours on Wednesday, reaching $1.88. 214,903 shares of the company’s stock were exchanged, compared to its average volume of 3,216,422. The company has a market cap of $491.27 million, a P/E ratio of -1.44 and a beta of 1.50. The company’s 50 day moving average is $2.15 and its two-hundred day moving average is $2.84. Dada Nexus has a 1 year low of $1.36 and a 1 year high of $7.03.

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 platform for consumers, retailers, and brand owner.