Short Interest in Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Expands By 1,749.7%

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totaling 35,663 shares, a growth of 1,749.7% from the August 15th total of 1,928 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average daily volume of 1,582,523 shares, the short-interest ratio is currently 0.0 days.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in shares of Rising Dragon Acquisition by 147.9% in the first quarter. Goldman Sachs Group Inc. now owns 140,300 shares of the company’s stock valued at $1,430,000 after purchasing an additional 83,700 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Rising Dragon Acquisition during the 3rd quarter worth about $520,000. Finally, Clear Street Group Inc. boosted its stake 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 valued at $337,000 after purchasing an additional 23,842 shares during the period.

Rising Dragon Acquisition Stock Down 4.9%

Rising Dragon Acquisition stock traded down $0.27 during trading hours on Friday, reaching $5.29. 19,761 shares of the company were exchanged, compared to its average volume of 2,182,270. Rising Dragon Acquisition has a 12 month low of $4.50 and a 12 month high of $23.99. The stock has a 50-day moving average of $5.99 and a 200 day moving average of $6.32.

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

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.