Dada Nexus Limited Sponsored ADR (NASDAQ:DADA - Get Free Report) was the recipient of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 6,070,000 shares, a drop of 37.2% from the May 15th total of 9,670,000 shares. Based on an average trading volume of 2,600,000 shares, the days-to-cover ratio is presently 2.3 days. Currently, 2.6% of the shares of the stock are sold short.
Dada Nexus Trading Down 2.5%
DADA traded down $0.05 during midday trading on Thursday, hitting $1.94. 3,894,883 shares of the company traded hands, compared to its average volume of 1,999,430. The company has a market capitalization of $499.71 million, a price-to-earnings ratio of -1.81 and a beta of 1.33. The business has a 50 day simple moving average of $1.97 and a two-hundred day simple moving average of $1.76. Dada Nexus has a 52-week low of $1.04 and a 52-week high of $2.52.
Institutional Investors Weigh In On Dada Nexus
Several institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in shares of Dada Nexus by 84.9% in the first quarter. Goldman Sachs Group Inc. now owns 277,056 shares of the company's stock worth $513,000 after acquiring an additional 127,189 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in Dada Nexus by 43.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 73,213 shares of the company's stock worth $135,000 after purchasing an additional 22,137 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Dada Nexus during the first quarter worth $4,728,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Dada Nexus in the first quarter valued at about $358,000. Finally, Gabelli Funds LLC purchased a new position in shares of Dada Nexus in the first quarter worth about $308,000. 59.25% of the stock is currently owned by institutional investors and hedge funds.
About Dada Nexus
(
Get Free Report)
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.
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