Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Sees Large Increase in Short Interest

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Rising Dragon Acquisition in a report on Tuesday, June 30th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company 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 the business. Goldman Sachs Group Inc. raised its position 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 worth $1,430,000 after buying an additional 83,700 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Rising Dragon Acquisition during the 3rd quarter valued at about $520,000. Finally, Clear Street Group Inc. boosted its holdings in shares of Rising Dragon Acquisition by 281.7% during the 4th quarter. Clear Street Group Inc. now owns 32,305 shares of the company’s stock valued at $337,000 after acquiring an additional 23,842 shares during the last quarter.

Rising Dragon Acquisition Stock Performance

RDAC stock traded down $0.20 during midday trading on Thursday, hitting $5.56. The company’s stock had a trading volume of 54,351 shares, compared to its average volume of 386,572. The firm’s 50-day moving average is $5.98 and its 200-day moving average is $6.32. Rising Dragon Acquisition has a 12 month low of $4.50 and a 12 month high of $23.99.

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