Rising Dragon Acquisition (NASDAQ:RDAC) Shares Up 4.7% – What’s Next?

Rising Dragon Acquisition Corp. (NASDAQ:RDAC)’s stock price traded up 4.7% during mid-day trading on Friday . The stock traded as high as $6.00 and last traded at $5.6550. Approximately 2,558 shares traded hands during trading, a decline of 56% from the average daily volume of 5,761 shares. The stock had previously closed at $5.40.

Wall Street Analysts Forecast Growth

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

Rising Dragon Acquisition Price Performance

The stock’s 50-day simple moving average is $7.20 and its 200-day simple moving average is $6.88.

Rising Dragon Acquisition (NASDAQ:RDAC) last posted its earnings results on Monday, March 30th. The company reported $0.06 EPS for the quarter.

Institutional Investors Weigh In On Rising Dragon Acquisition

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in shares of Rising Dragon Acquisition by 147.9% in 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 last quarter. JPMorgan Chase & Co. bought a new stake in Rising Dragon Acquisition in the third quarter worth about $520,000. Berkley W R Corp boosted its stake in Rising Dragon Acquisition by 2.2% in the third quarter. Berkley W R Corp now owns 234,708 shares of the company’s stock valued at $2,446,000 after acquiring an additional 5,002 shares during the last quarter. Finally, Clear Street Group Inc. purchased a new position in Rising Dragon Acquisition in the third quarter valued at about $88,000.

About Rising Dragon Acquisition

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.