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

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

Hedge Funds Weigh In On Rising Dragon Acquisition

Hedge funds have recently bought and sold shares of the company. Clear Street Group Inc. raised its position in shares of Rising Dragon Acquisition by 281.7% in the 4th quarter. Clear Street Group Inc. now owns 32,305 shares of the company’s stock valued at $337,000 after buying an additional 23,842 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Rising Dragon Acquisition during the 3rd quarter worth approximately $520,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of 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 acquiring an additional 83,700 shares in the last quarter.

Rising Dragon Acquisition Price Performance

Shares of NASDAQ:RDAC opened at $5.62 on Friday. Rising Dragon Acquisition has a 1 year low of $4.50 and a 1 year high of $23.99. The business’s 50 day simple moving average is $5.99 and its 200 day simple moving average is $6.33.

Rising Dragon Acquisition (NASDAQ:RDAC) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.04 earnings per share for the quarter.

Wall Street Analysts Forecast Growth

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