Research Alliance Corporation III (NASDAQ:RACC) Announces Quarterly Earnings Results

Research Alliance Corporation III (NASDAQ:RACC) released its quarterly earnings results on Wednesday. The company reported $0.01 EPS for the quarter, FiscalAI reports.

Research Alliance Corporation III Stock Performance

Shares of RACC traded up $0.11 during trading hours on Friday, hitting $27.81. 2,965 shares of the stock were exchanged, compared to its average volume of 31,451. The stock has a 50-day moving average price of $14.13. Research Alliance Corporation III has a 12-month low of $10.21 and a 12-month high of $33.50.

Institutional Investors Weigh In On Research Alliance Corporation III

An institutional investor recently bought a new position in Research Alliance Corporation III stock. LM Advisors LLC purchased a new position in shares of Research Alliance Corporation III (NASDAQ:RACC) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,258 shares of the company’s stock, valued at approximately $4,956,000. LM Advisors LLC owned about 0.06% of Research Alliance Corporation III at the end of the most recent quarter.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Research Alliance Corporation III to a “hold” rating in a research note on Saturday, May 30th.

About Research Alliance Corporation III

Research Alliance Corporation III is a blank check company. It formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Research Alliance Corporation III is based in New York.