Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Stock Short Interest Falls 45.6%

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 33,308 shares, a decline of 45.6% from the September 15th total of 61,282 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily trading volume, of 20,741 shares, the short-interest ratio is presently 1.6 days.

Rising Dragon Acquisition Trading Down 2.0%

Shares of RDAC opened at $5.32 on Wednesday. Rising Dragon Acquisition has a fifty-two week low of $4.50 and a fifty-two week high of $23.99. The firm has a 50-day simple moving average of $5.79 and a 200-day simple moving average of $6.39.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Rising Dragon Acquisition in a research report on Friday, September 25th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Rising Dragon Acquisition stock. Clear Street Group Inc. lifted its stake in shares of Rising Dragon Acquisition Corp. (NASDAQ:RDAC) by 281.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,305 shares of the company’s stock after purchasing an additional 23,842 shares during the quarter. Clear Street Group Inc. owned about 0.43% of Rising Dragon Acquisition worth $337,000 at the end of the most recent quarter.

About Rising Dragon Acquisition

Rising Dragon Acquisition Corp. (NASDAQ: RDAC) is a special purpose acquisition company, or blank-check company. It was established to pursue a business combination with an operating company through a merger, share exchange, asset acquisition, stock purchase, reorganization or similar transaction.

Unlike an operating company, Rising Dragon Acquisition Corp. does not have a portfolio of products or services of its own. Its primary corporate activity is identifying and completing a transaction with a private business that could become a publicly traded company.

The company is incorporated in the Cayman Islands.