Research Alliance Corporation III (NASDAQ:RACC) Posts Quarterly Earnings Results

Research Alliance Corporation III (NASDAQ:RACC) announced its quarterly earnings results on Wednesday. The company reported $0.01 earnings per share (EPS) for the quarter, FiscalAI reports.

Research Alliance Corporation III Trading Up 1.4%

Research Alliance Corporation III stock traded up $0.41 during mid-day trading on Thursday, hitting $29.71. The company had a trading volume of 21,949 shares, compared to its average volume of 30,866. The firm’s fifty day moving average is $13.78. Research Alliance Corporation III has a 12-month low of $10.21 and a 12-month high of $33.50.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Research Alliance Corporation III stock. LM Advisors LLC purchased a new stake in Research Alliance Corporation III (NASDAQ:RACC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,258 shares of the company’s stock, valued at approximately $4,956,000. LM Advisors LLC owned 0.06% of Research Alliance Corporation III as of its most recent filing with the SEC.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Research Alliance Corporation III to a “hold” rating in a research report on Saturday, May 30th.

Research Alliance Corporation III Company Profile

Research Alliance Corporation III is a blank check company. It formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Research Alliance Corporation III is based in New York.