Oriental Rise Stock to Reverse Split on Monday, June 22nd (NASDAQ:ORIS)

Oriental Rise Holdings Limited (NASDAQ:ORIS)’s stock is set to reverse split before the market opens on Monday, June 22nd. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, June 21st.

Oriental Rise Trading Up 3.1%

NASDAQ ORIS traded up $0.02 on Wednesday, hitting $0.54. 100,729 shares of the stock were exchanged, compared to its average volume of 1,508,321. Oriental Rise has a 52-week low of $0.28 and a 52-week high of $20.00. The company’s 50-day moving average price is $0.52 and its two-hundred day moving average price is $1.10.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Oriental Rise in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Oriental Rise has an average rating of “Sell”.

About Oriental Rise

Oriental Rise Acquisition Corp. (NASDAQ: ORIS) is a special purpose acquisition company formed to raise capital through an initial public offering with the objective of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination. As a blank-check company, Oriental Rise does not conduct any operations of its own until it identifies a suitable target business for acquisition.

The company seeks to partner with businesses operating in high-growth sectors across Asia, including Greater China and Southeast Asia.