Dada Nexus Limited (NASDAQ:DADA) Short Interest Update

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Dada Nexus

A number of large investors have recently added to or reduced their stakes in DADA. Citigroup Inc. lifted its position in Dada Nexus by 69.5% in the 4th quarter. Citigroup Inc. now owns 7,756 shares of the company’s stock valued at $54,000 after purchasing an additional 3,180 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Dada Nexus by 222.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,891 shares of the company’s stock worth $35,000 after purchasing an additional 5,447 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Dada Nexus in the first quarter worth approximately $97,000. GSA Capital Partners LLP purchased a new position in shares of Dada Nexus in the fourth quarter worth approximately $41,000. Finally, Marshall Wace LLP purchased a new position in Dada Nexus during the third quarter valued at approximately $61,000. 59.25% of the stock is owned by institutional investors and hedge funds.

Dada Nexus Price Performance

NASDAQ:DADA traded down $0.03 during trading hours on Wednesday, reaching $1.88. 214,903 shares of the company were exchanged, compared to its average volume of 3,216,422. The firm has a market cap of $491.27 million, a price-to-earnings ratio of -1.44 and a beta of 1.50. Dada Nexus has a 52-week low of $1.36 and a 52-week high of $7.03. The stock has a 50 day simple moving average of $2.15 and a 200 day simple moving average of $2.84.

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 platform for consumers, retailers, and brand owner.