Dada Nexus Limited (NASDAQ:DADA) Short Interest Up 73.3% in January

Dada Nexus Limited (NASDAQ:DADA) saw a large growth in short interest in January. As of January 31st, there was short interest totalling 3,640,000 shares, a growth of 73.3% from the January 15th total of 2,100,000 shares. Based on an average daily volume of 1,850,000 shares, the short-interest ratio is currently 2.0 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Hhlr Advisors LTD. grew its holdings in Dada Nexus by 16.7% during the 4th quarter. Hhlr Advisors LTD. now owns 700,000 shares of the company’s stock valued at $847,000 after buying an additional 100,000 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Dada Nexus in the fourth quarter valued at $63,000. Dimensional Fund Advisors LP boosted its stake in shares of Dada Nexus by 60.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 260,522 shares of the company’s stock valued at $316,000 after acquiring an additional 97,817 shares during the last quarter. Marshall Wace LLP purchased a new stake in Dada Nexus during the 4th quarter worth about $490,000. Finally, Walleye Capital LLC raised its stake in Dada Nexus by 267.2% in the 4th quarter. Walleye Capital LLC now owns 409,566 shares of the company’s stock valued at $496,000 after purchasing an additional 298,018 shares during the last quarter. 59.25% of the stock is owned by hedge funds and other institutional investors.

Dada Nexus Stock Performance

NASDAQ DADA traded up $0.03 during trading hours on Friday, reaching $1.88. The company’s stock had a trading volume of 1,754,751 shares, compared to its average volume of 3,267,702. The stock has a market cap of $488.42 million, a PE ratio of -1.69 and a beta of 1.41. The company’s 50-day moving average is $1.49 and its two-hundred day moving average is $1.48. Dada Nexus has a fifty-two week low of $1.04 and a fifty-two week high of $2.83.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DADA shares. Mizuho cut their price target on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Citigroup dropped their target price on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating for the company in a report on Friday, November 15th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus 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.