Dada Nexus Limited (NASDAQ:DADA) Sees Large Decline in Short Interest

Dada Nexus Limited (NASDAQ:DADAGet Rating) saw a significant decline in short interest during the month of December. As of December 30th, there was short interest totalling 3,810,000 shares, a decline of 6.2% from the December 15th total of 4,060,000 shares. Based on an average trading volume of 1,630,000 shares, the short-interest ratio is currently 2.3 days.

Institutional Investors Weigh In On Dada Nexus

Several institutional investors have recently modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. grew its holdings in Dada Nexus by 133.6% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 33,968 shares of the company’s stock valued at $294,000 after purchasing an additional 19,427 shares during the period. HighTower Advisors LLC acquired a new position in Dada Nexus during the first quarter valued at approximately $97,000. Panagora Asset Management Inc. grew its holdings in Dada Nexus by 16.3% during the first quarter. Panagora Asset Management Inc. now owns 29,870 shares of the company’s stock valued at $273,000 after purchasing an additional 4,189 shares during the period. BlackRock Inc. grew its holdings in Dada Nexus by 1.5% during the first quarter. BlackRock Inc. now owns 2,317,587 shares of the company’s stock valued at $21,160,000 after purchasing an additional 33,925 shares during the period. Finally, Vontobel Holding Ltd. grew its holdings in Dada Nexus by 15.2% during the first quarter. Vontobel Holding Ltd. now owns 20,565 shares of the company’s stock valued at $188,000 after purchasing an additional 2,710 shares during the period. Institutional investors and hedge funds own 18.11% of the company’s stock.

Dada Nexus Trading Up 3.6 %

Shares of NASDAQ DADA opened at $14.69 on Tuesday. Dada Nexus has a 1-year low of $2.98 and a 1-year high of $15.29. The company has a 50-day moving average of $8.16 and a two-hundred day moving average of $6.54. The company has a market cap of $3.75 billion, a PE ratio of -10.20, a P/E/G ratio of 3.99 and a beta of 0.99.

Dada Nexus (NASDAQ:DADAGet Rating) last issued its quarterly earnings results on Thursday, November 17th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.02. Dada Nexus had a negative net margin of 28.88% and a negative return on equity of 30.01%. The company had revenue of $347.82 million during the quarter, compared to analysts’ expectations of $348.04 million. As a group, equities research analysts forecast that Dada Nexus will post -0.89 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DADA. Mizuho dropped their target price on shares of Dada Nexus from $16.50 to $13.00 in a research note on Monday, November 14th. JPMorgan Chase & Co. boosted their target price on shares of Dada Nexus from $7.50 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 11th.

About Dada Nexus

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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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