Short Interest in Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Decreases By 21.1%

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) was the target of a large drop in short interest in April. As of April 15th, there was short interest totaling 4,418 shares, a drop of 21.1% from the March 31st total of 5,597 shares. Based on an average trading volume of 3,065 shares, the short-interest ratio is presently 1.4 days. Approximately 0.1% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Rising Dragon Acquisition

A number of institutional investors have recently made changes to their positions in the business. Berkley W R Corp boosted its stake 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 valued at $2,446,000 after purchasing an additional 5,002 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 during the last quarter. Goldman Sachs Group Inc. increased 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 period. JPMorgan Chase & Co. bought a new position in Rising Dragon Acquisition in the 3rd quarter worth approximately $520,000. Finally, Clear Street Group Inc. lifted its holdings in shares of Rising Dragon Acquisition by 281.7% during the fourth quarter. Clear Street Group Inc. now owns 32,305 shares of the company’s stock worth $337,000 after buying an additional 23,842 shares during the last quarter.

Rising Dragon Acquisition Trading Down 12.9%

Shares of RDAC opened at $9.29 on Friday. Rising Dragon Acquisition has a one year low of $4.59 and a one year high of $23.99. The company’s fifty day moving average price is $5.73 and its 200 day moving average price is $8.06.

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.