Rising Dragon Acquisition (NASDAQ:RDAC) Issues Earnings Results

Rising Dragon Acquisition (NASDAQ:RDAC) issued its quarterly earnings results on Wednesday. The company reported $0.06 earnings per share (EPS) for the quarter, FiscalAI reports.

Rising Dragon Acquisition Stock Performance

NASDAQ:RDAC opened at $8.12 on Thursday. The firm has a 50-day simple moving average of $6.17 and a two-hundred day simple moving average of $7.90. Rising Dragon Acquisition has a fifty-two week low of $4.59 and a fifty-two week high of $23.99.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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.com, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On Rising Dragon Acquisition

Several large investors have recently bought and sold shares of RDAC. Wolverine Asset Management LLC grew its position 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 worth $2,023,000 after purchasing an additional 2,065 shares during the period. Berkley W R Corp grew its holdings in Rising Dragon Acquisition by 2.2% during the third quarter. Berkley W R Corp now owns 234,708 shares of the company’s stock valued at $2,446,000 after purchasing an additional 5,002 shares during the period. Clear Street Group Inc. bought a new position in shares of Rising Dragon Acquisition in the third quarter worth approximately $88,000. JPMorgan Chase & Co. purchased a new stake in shares of Rising Dragon Acquisition in the third quarter worth $520,000. Finally, Goldman Sachs Group Inc. lifted its stake 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 valued at $1,430,000 after buying an additional 83,700 shares in the last quarter.

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.