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

Dada Nexus Limited (NASDAQ:DADA) was the target of a significant 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 currently 1.2 days.

Dada Nexus Stock Performance

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

Dada Nexus (NASDAQ:DADA) last issued its quarterly earnings results on Monday, March 25th. The company reported ($0.10) earnings per share (EPS) 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%. As a group, equities analysts expect that Dada Nexus will post 0.22 earnings per share for the current year.

Institutional Trading of Dada Nexus

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of Dada Nexus by 170.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 21,338 shares of the company’s stock worth $71,000 after acquiring an additional 13,447 shares during the last quarter. Kaizen Capital Partners Ltd boosted its stake in shares of Dada Nexus by 6.9% in the third quarter. Kaizen Capital Partners Ltd now owns 12,281,623 shares of the company’s stock worth $54,653,000 after acquiring an additional 788,425 shares during the last quarter. Aviva PLC boosted its stake in shares of Dada Nexus by 56.0% in the third quarter. Aviva PLC now owns 1,443,060 shares of the company’s stock worth $6,422,000 after acquiring an additional 518,113 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Dada Nexus by 135.5% in the third quarter. Federated Hermes Inc. now owns 1,203,059 shares of the company’s stock worth $5,354,000 after acquiring an additional 692,120 shares during the last quarter. Finally, Alberta Investment Management Corp boosted its stake in shares of Dada Nexus by 31.7% in the second quarter. Alberta Investment Management Corp now owns 227,196 shares of the company’s stock worth $1,206,000 after acquiring an additional 54,719 shares during the last quarter. 59.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have 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 cut their price objective on Dada Nexus from $7.00 to $6.00 and set a “buy” rating on the stock 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 on the stock 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.00.

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 platform for consumers, retailers, and brand owner.