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

Dada Nexus Limited (NASDAQ:DADA) was the target 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 trading volume of 3,490,000 shares, the days-to-cover ratio is presently 1.2 days.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Dada Nexus

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its position in shares of Dada Nexus by 222.9% during the third quarter. Tower Research Capital LLC TRC now owns 7,891 shares of the company’s stock worth $35,000 after buying an additional 5,447 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Dada Nexus during the fourth quarter worth approximately $41,000. Jump Financial LLC acquired a new position in shares of Dada Nexus during the fourth quarter worth approximately $42,000. Citigroup Inc. boosted 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 buying an additional 3,180 shares during the period. Finally, Ethic Inc. bought a new stake in Dada Nexus during the fourth quarter worth approximately $55,000. 59.25% of the stock is currently owned by institutional investors and hedge funds.

Dada Nexus Stock Down 3.7 %

DADA stock traded down $0.07 during midday trading on Wednesday, reaching $1.83. The company had a trading volume of 1,243,753 shares, compared to its average volume of 3,230,389. The stock has a 50 day moving average price of $2.15 and a 200 day moving average price of $2.84. Dada Nexus has a fifty-two week low of $1.36 and a fifty-two week high of $7.03. The firm has a market capitalization of $479.48 million, a PE ratio of -1.40 and a beta of 1.50.

Dada Nexus (NASDAQ:DADA) last issued its quarterly earnings data on Monday, March 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The business had revenue of $381.95 million for the quarter, compared to analyst estimates of $436.80 million. Dada Nexus had a negative return on equity of 14.06% and a negative net margin of 22.62%. Research analysts predict that Dada Nexus will post 0.22 EPS for the current year.

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.