Dada Nexus Limited (NASDAQ:DADA – Get Free Report) 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.
Check Out Our Latest Research Report on Dada Nexus
Hedge Funds Weigh In On Dada Nexus
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 – Get Free Report) 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.
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