Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Short Interest Update

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) saw a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 9,967 shares, a drop of 88.1% from the April 30th total of 84,044 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 110,076 shares, the days-to-cover ratio is currently 0.1 days.

Rising Dragon Acquisition Stock Up 2.5%

Rising Dragon Acquisition stock traded up $0.23 during midday trading on Thursday, hitting $9.54. 6,438 shares of the stock were exchanged, compared to its average volume of 204,245. The company has a fifty day simple moving average of $6.94 and a two-hundred day simple moving average of $7.80. Rising Dragon Acquisition has a 52 week low of $4.59 and a 52 week high of $23.99.

Rising Dragon Acquisition (NASDAQ:RDAC) last released its quarterly earnings data on Monday, March 30th. The company reported $0.06 earnings per share for the quarter.

Institutional Trading of Rising Dragon Acquisition

Hedge funds have recently bought and sold shares of the stock. Clear Street Group Inc. raised its holdings in 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. JPMorgan Chase & Co. acquired a new stake in Rising Dragon Acquisition during the 3rd quarter worth approximately $520,000. Goldman Sachs Group Inc. raised its holdings in 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, Berkley W R Corp raised its holdings in Rising Dragon Acquisition by 2.2% during the 3rd quarter. Berkley W R Corp now owns 234,708 shares of the company’s stock worth $2,446,000 after buying an additional 5,002 shares during the period.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Rising Dragon Acquisition in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Rising Dragon Acquisition presently has an average 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.