Dada Nexus Limited (NASDAQ:DADA – Get Free Report) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totalling 2,970,000 shares, a decline of 18.4% from the August 31st total of 3,640,000 shares. Based on an average daily trading volume, of 1,290,000 shares, the days-to-cover ratio is currently 2.3 days.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on DADA shares. Citigroup raised shares of Dada Nexus from a “sell” rating to a “neutral” rating and raised their target price for the company from $1.00 to $1.50 in a report on Wednesday, August 21st. Daiwa Capital Markets initiated coverage on shares of Dada Nexus in a report on Thursday, August 22nd. They issued a “neutral” rating on the stock. Finally, Daiwa America raised shares of Dada Nexus to a “hold” rating in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Dada Nexus presently has an average rating of “Hold” and a consensus target price of $3.35.
Get Our Latest Analysis on DADA
Institutional Inflows and Outflows
Dada Nexus Price Performance
Shares of Dada Nexus stock traded up $0.21 during trading hours on Friday, hitting $1.81. The company had a trading volume of 6,751,886 shares, compared to its average volume of 2,207,243. The company’s 50-day moving average is $1.26 and its two-hundred day moving average is $1.62. The company has a market cap of $470.24 million, a P/E ratio of -1.41 and a beta of 1.33. Dada Nexus has a twelve month low of $1.04 and a twelve month high of $4.98.
Dada Nexus (NASDAQ:DADA – Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The company reported ($0.09) earnings per share (EPS) for the quarter. Dada Nexus had a negative net margin of 19.81% and a negative return on equity of 10.94%. The company had revenue of $324.54 million during the quarter.
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 platforms for consumers, retailers, and brand owners.
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