Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Sees Significant Increase in Short Interest

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) saw a significant growth in short interest in September. As of September 15th, there was short interest totaling 61,282 shares, a growth of 71.8% from the August 31st total of 35,663 shares. Approximately 2.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,595,223 shares, the short-interest ratio is presently 0.0 days.

Rising Dragon Acquisition Stock Performance

Shares of NASDAQ:RDAC traded down $0.04 during midday trading on Thursday, hitting $5.39. 22,309 shares of the stock were exchanged, compared to its average volume of 360,187. The business’s 50-day moving average price is $5.92 and its 200 day moving average price is $6.37. Rising Dragon Acquisition has a 12 month low of $4.50 and a 12 month high of $23.99.

Rising Dragon Acquisition (NASDAQ:RDAC) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Rising Dragon Acquisition in a research note on Friday, September 25th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Rising Dragon Acquisition

A hedge fund recently raised its stake in Rising Dragon Acquisition stock. Clear Street Group Inc. lifted its holdings in shares of Rising Dragon Acquisition Corp. (NASDAQ:RDAC) by 281.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,305 shares of the company’s stock after purchasing an additional 23,842 shares during the period. Clear Street Group Inc. owned 0.43% of Rising Dragon Acquisition worth $337,000 as of its most recent filing with the SEC.

Rising Dragon Acquisition Company Profile

Rising Dragon Acquisition Corp. (NASDAQ: RDAC) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Unlike an operating business, the company does not manufacture products or provide services directly.

Its activities primarily involve evaluating potential merger or acquisition targets, negotiating a transaction and completing the business combination. The company’s future business operations will depend on the company it ultimately acquires.

Publicly available information about Rising Dragon Acquisition Corp.’s target industry, geographic focus and leadership is limited.