Rainier Acquisition Corp (NASDAQ:RNAQU) Stock Short Interest Report for September

Rainier Acquisition Corp (NASDAQ:RNAQU) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totaling 1,871 shares, a decrease of 95.2% from the September 15th total of 38,698 shares. Based on an average daily trading volume, of 32,760 shares, the short-interest ratio is currently 0.1 days.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Rainier Acquisition to a “hold” rating in a research report on Saturday, September 5th.

Rainier Acquisition Price Performance

RNAQU opened at $10.12 on Friday. Rainier Acquisition has a 1 year low of $10.01 and a 1 year high of $10.38.

Insider Buying and Selling

In other news, Director Jonas Grossman bought 5,625 shares of Rainier Acquisition stock in a transaction on Wednesday, September 2nd. The shares were bought at an average cost of $10.00 per share, for a total transaction of $56,250.00. Following the acquisition, the director owned 200,000 shares in the company, valued at approximately $2,000,000. This trade represents a 2.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

About Rainier Acquisition

Rainier Acquisition Corp. is a special purpose acquisition company (SPAC) whose securities trade on the Nasdaq under the symbol RNAQU. Like other blank-check companies, it was formed to raise capital through an initial public offering for the purpose of pursuing a business combination.

The company does not have an established operating business, products or services of its own. Its activities are primarily focused on identifying and evaluating a target company, which could involve a merger, acquisition, stock purchase, reorganization or similar transaction.

Rainier Acquisition Corp.