Rising Dragon Acquisition (NASDAQ:RDAC) Posts Quarterly Earnings Results

Rising Dragon Acquisition (NASDAQ:RDAC) issued its earnings results on Friday. The company reported $0.04 earnings per share for the quarter, FiscalAI reports.

Rising Dragon Acquisition Stock Performance

Shares of NASDAQ RDAC traded up $0.12 during midday trading on Friday, hitting $6.24. 5,095 shares of the company’s stock were exchanged, compared to its average volume of 141,809. Rising Dragon Acquisition has a 12 month low of $4.59 and a 12 month high of $23.99. The company’s 50 day moving average price is $6.19 and its 200 day moving average price is $6.45.

Institutional Investors Weigh In On Rising Dragon Acquisition

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new position in shares of Rising Dragon Acquisition in the third quarter valued at about $520,000. Goldman Sachs Group Inc. boosted its holdings in shares of Rising Dragon Acquisition by 147.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 140,300 shares of the company’s stock worth $1,430,000 after buying an additional 83,700 shares during the period. Finally, Clear Street Group Inc. boosted its holdings in shares of Rising Dragon Acquisition by 281.7% during the 4th quarter. Clear Street Group Inc. now owns 32,305 shares of the company’s stock worth $337,000 after buying an additional 23,842 shares during the period.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Rising Dragon Acquisition in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Rising Dragon Acquisition Company Profile

Rising Dragon Acquisition Corp (NASDAQ: RDAC) is a special purpose acquisition company, or SPAC, incorporated in the Cayman Islands in November 2020 to pursue a merger, share exchange, asset acquisition or other business combination. The company held its initial public offering in February 2021, raising funds aimed at financing acquisitions and related transaction expenses.

Rising Dragon Acquisition focuses on identifying high-growth opportunities in Asia, targeting sectors such as technology, media, telecommunications, healthcare and consumer products.