Short Interest in Dada Nexus Limited (NASDAQ:DADA) Drops By 12.1%

Dada Nexus Limited (NASDAQ:DADA) was the target of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 1,880,000 shares, a decline of 12.1% from the November 15th total of 2,140,000 shares. Based on an average daily trading volume, of 1,970,000 shares, the short-interest ratio is presently 1.0 days.

Institutional Trading of Dada Nexus

Several large investors have recently modified their holdings of DADA. Jane Street Group LLC raised its stake in Dada Nexus by 45.5% in the third quarter. Jane Street Group LLC now owns 235,666 shares of the company’s stock valued at $448,000 after purchasing an additional 73,720 shares in the last quarter. Wolverine Trading LLC acquired a new position in shares of Dada Nexus in the 3rd quarter valued at approximately $42,000. Quadrature Capital Ltd acquired a new position in shares of Dada Nexus in the 3rd quarter valued at approximately $67,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Dada Nexus during the 3rd quarter worth approximately $26,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Dada Nexus during the 3rd quarter worth approximately $126,000. 59.25% of the stock is owned by institutional investors and hedge funds.

Dada Nexus Stock Performance

Shares of NASDAQ DADA traded up $0.04 during midday trading on Tuesday, reaching $1.45. The company’s stock had a trading volume of 581,110 shares, compared to its average volume of 2,123,886. The company has a market cap of $376.72 million, a P/E ratio of -1.27 and a beta of 1.32. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $3.67. The business’s 50 day moving average price is $1.58 and its two-hundred day moving average price is $1.46.

Analyst Upgrades and Downgrades

DADA has been the subject of several research reports. Daiwa Capital Markets started coverage on shares of Dada Nexus in a research report on Thursday, August 22nd. They set a “neutral” rating for the company. Mizuho dropped their price target on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Citigroup decreased their price objective on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Daiwa America raised Dada Nexus to a “hold” rating in a report on Thursday, August 22nd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Dada Nexus has an average rating of “Hold” and an average price target of $2.70.

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.