Research Alliance Corporation IV (NASDAQ:RACD) Shares Shorted: Short Interest Down 93.0% in October

Research Alliance Corporation IV (NASDAQ:RACD) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 167 shares, a decrease of 93.0% from the September 30th total of 2,388 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 2,713 shares, the short-interest ratio is presently 0.1 days.

Research Alliance Corporation IV Price Performance

Shares of RACD traded down $0.09 during trading hours on Monday, reaching $10.39. The company’s stock had a trading volume of 8,730 shares, compared to its average volume of 8,240. Research Alliance Corporation IV has a 1-year low of $10.00 and a 1-year high of $13.64. The firm has a 50 day moving average of $11.81.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Research Alliance Corporation IV to a “hold” rating in a research report on Saturday, July 18th.

Research Alliance Corporation IV Company Profile

Research Alliance Corporation IV (NASDAQ: RACD) is a special purpose acquisition company, commonly known as a blank-check company. Its primary objective is to identify and complete a business combination, such as a merger, acquisition, stock purchase or similar transaction, with one or more operating companies.

As a SPAC, Research Alliance Corporation IV does not have established commercial operations, products or services of its own. Until it completes a business combination, its activities generally consist of evaluating potential target companies, conducting due diligence and pursuing transaction-related matters.

Publicly available information about the company’s target industry, geographic focus and leadership is limited.