Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Sees Large Decrease in Short Interest

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) saw a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 1,928 shares, a decrease of 56.9% from the July 30th total of 4,469 shares. Based on an average daily trading volume, of 1,452 shares, the short-interest ratio is currently 1.3 days. Approximately 0.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Rising Dragon Acquisition

Hedge funds and other institutional investors have recently modified their holdings of the business. Clear Street Group Inc. boosted 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 valued at $337,000 after acquiring an additional 23,842 shares during the period. JPMorgan Chase & Co. purchased a new stake in Rising Dragon Acquisition in the third quarter worth $520,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Rising Dragon Acquisition by 147.9% during the first quarter. Goldman Sachs Group Inc. now owns 140,300 shares of the company’s stock worth $1,430,000 after purchasing an additional 83,700 shares during the last quarter.

Rising Dragon Acquisition Stock Performance

NASDAQ:RDAC traded down $0.37 during midday trading on Friday, hitting $4.78. 26,572 shares of the company traded hands, compared to its average volume of 908,729. Rising Dragon Acquisition has a 12-month low of $4.59 and a 12-month high of $23.99. The firm’s fifty day moving average is $5.92 and its 200-day moving average is $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.

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.