Dada Nexus Limited (NASDAQ:DADA) Sees Significant Increase in Short Interest

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

Dada Nexus Price Performance

Shares of Dada Nexus stock opened at $1.82 on Monday. The business has a 50-day moving average of $1.41 and a 200 day moving average of $1.44. Dada Nexus has a 12 month low of $1.04 and a 12 month high of $2.83. The stock has a market capitalization of $472.84 million, a price-to-earnings ratio of -1.64 and a beta of 1.36.

Hedge Funds Weigh In On Dada Nexus

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP raised its position 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 in the last quarter. Jane Street Group LLC raised its position in Dada Nexus by 45.5% in the 3rd 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. JPMorgan Chase & Co. raised its position in Dada Nexus by 219.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 224,866 shares of the company’s stock valued at $427,000 after purchasing an additional 154,460 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Dada Nexus in the 2nd quarter valued at about $230,000. Finally, Harbour Capital Advisors LLC acquired a new stake in Dada Nexus in the 4th quarter valued at about $159,000. 59.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DADA has been the subject of a number of research analyst reports. Citigroup lowered 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, November 15th. Mizuho lowered 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. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Dada Nexus has an average rating of “Hold” and a consensus target price 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.