Short Interest in Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Declines By 88.1%

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totaling 9,967 shares, a decline of 88.1% from the April 30th total of 84,044 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 110,076 shares, the short-interest ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Rising Dragon Acquisition in a report on Thursday, April 2nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, Rising Dragon Acquisition has a consensus rating of “Sell”.

Institutional Investors Weigh In On Rising Dragon Acquisition

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Berkley W R Corp boosted its holdings in shares of Rising Dragon Acquisition by 2.2% in 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 last quarter. Clear Street Group Inc. acquired a new stake in shares of Rising Dragon Acquisition during the 3rd quarter worth $88,000. Goldman Sachs Group Inc. increased its holdings in shares of Rising Dragon Acquisition by 147.9% during 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. Finally, JPMorgan Chase & Co. purchased a new position in shares of Rising Dragon Acquisition in the 3rd quarter worth $520,000.

Rising Dragon Acquisition Price Performance

Shares of NASDAQ RDAC traded down $0.26 during mid-day trading on Friday, hitting $9.15. 3,227 shares of the company were exchanged, compared to its average volume of 68,341. The stock has a 50 day simple moving average of $7.11 and a 200-day simple moving average of $7.80. Rising Dragon Acquisition has a 1-year low of $4.59 and a 1-year high of $23.99.

Rising Dragon Acquisition (NASDAQ:RDAC) last issued its earnings results on Monday, March 30th. The company reported $0.06 earnings per share (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.