Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Short Interest Update

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 15,654 shares, an increase of 180.7% from the June 30th total of 5,576 shares. Based on an average daily volume of 21,658 shares, the short-interest ratio is presently 0.7 days. Approximately 0.4% of the company’s shares are sold short.

Rising Dragon Acquisition Price Performance

Shares of RDAC traded up $0.10 during mid-day trading on Monday, reaching $6.25. The company’s stock had a trading volume of 11,543 shares, compared to its average volume of 18,680. The business has a fifty day moving average of $6.71 and a 200 day moving average of $6.57. 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 quarterly earnings results on Monday, March 30th. The company reported $0.06 earnings per share for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Rising Dragon Acquisition in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On Rising Dragon Acquisition

A number of large investors have recently made changes to their positions in RDAC. Goldman Sachs Group Inc. increased its stake 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 valued at $1,430,000 after buying an additional 83,700 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Rising Dragon Acquisition during the 3rd quarter valued at $520,000. Finally, Clear Street Group Inc. boosted its stake in shares of Rising Dragon Acquisition by 281.7% during the 4th quarter. Clear Street Group Inc. now owns 32,305 shares of the company’s stock valued at $337,000 after buying an additional 23,842 shares during the period.

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.