Dada Nexus Limited (NASDAQ:DADA) Short Interest Up 7.4% in March

Dada Nexus Limited (NASDAQ:DADA - Get Free Report) was the recipient of a large growth in short interest in the month of 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 volume of 3,490,000 shares, the short-interest ratio is presently 1.2 days.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Daiwa Capital Markets upgraded shares of Dada Nexus from a "neutral" rating to a "buy" rating and set a $3.50 price target for the company in a research report on Tuesday, February 20th. Mizuho decreased their price target on shares of Dada Nexus from $7.00 to $6.00 and set a "buy" rating for the company in a research report on Wednesday, January 17th. Citigroup cut shares of Dada Nexus from a "buy" rating to a "sell" rating in a research report on Monday, January 8th. Finally, New Street Research restated a "neutral" rating and issued a $2.00 price target (down from $15.00) on shares of Dada Nexus in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $6.00.

Dada Nexus Stock Down 3.7 %

Shares of Dada Nexus stock traded down $0.07 on Wednesday, reaching $1.83. The company's stock had a trading volume of 1,243,786 shares, compared to its average volume of 3,230,750. The company has a market capitalization of $479.48 million, a P/E ratio of -1.40 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 moving average price of $2.15 and a 200-day moving average price of $2.84.

Dada Nexus (NASDAQ:DADA - Get Free Report) last released its quarterly earnings results on Monday, March 25th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.09). The business had revenue of $381.95 million for the quarter, compared to analysts' expectations of $436.80 million. Dada Nexus had a negative return on equity of 14.06% and a negative net margin of 22.62%. Sell-side analysts forecast that Dada Nexus will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DADA. Tower Research Capital LLC TRC raised its holdings in shares of Dada Nexus by 222.9% in the third quarter. Tower Research Capital LLC TRC now owns 7,891 shares of the company's stock worth $35,000 after acquiring an additional 5,447 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Dada Nexus in the fourth quarter worth $41,000. Jump Financial LLC acquired a new position in Dada Nexus in the fourth quarter valued at $42,000. Citigroup Inc. increased its stake in Dada Nexus by 69.5% in the fourth 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. Finally, Ethic Inc. purchased a new stake in Dada Nexus during the fourth quarter valued at about $55,000. Hedge funds and other institutional investors own 59.25% of the company's stock.

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.