Short Interest in Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Increases By 1,802.3%

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totaling 84,044 shares, an increase of 1,802.3% from the April 15th total of 4,418 shares. Based on an average daily trading volume, of 1,572,176 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.8% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Rising Dragon Acquisition in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Rising Dragon Acquisition Stock Up 3.5%

Shares of RDAC stock traded up $0.28 on Monday, reaching $8.26. The stock had a trading volume of 79,206 shares, compared to its average volume of 231,098. Rising Dragon Acquisition has a 12 month low of $4.59 and a 12 month high of $23.99. The firm’s 50-day moving average is $5.91 and its two-hundred day moving average is $7.96.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RDAC. Clear Street Group Inc. bought a new stake in shares of Rising Dragon Acquisition during the third quarter worth approximately $88,000. JPMorgan Chase & Co. acquired a new stake in Rising Dragon Acquisition during the 3rd quarter worth approximately $520,000. Goldman Sachs Group Inc. boosted its stake in Rising Dragon Acquisition by 147.9% in the 1st 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 period. Wolverine Asset Management LLC grew its holdings in Rising Dragon Acquisition by 1.1% in the 3rd quarter. Wolverine Asset Management LLC now owns 194,312 shares of the company’s stock valued at $2,023,000 after buying an additional 2,065 shares in the last quarter. Finally, Berkley W R Corp increased its position in Rising Dragon Acquisition by 2.2% during the 3rd quarter. Berkley W R Corp now owns 234,708 shares of the company’s stock worth $2,446,000 after buying an additional 5,002 shares during the period.

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.