Rising Dragon Acquisition Corp. (NASDAQ:RDAC – Get Free Report) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totaling 84,044 shares, an increase of 1,802.3% from the April 15th total of 4,418 shares. Based on an average daily volume of 1,572,176 shares, the short-interest ratio is presently 0.1 days. Currently, 1.8% of the shares of the company are short sold.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Rising Dragon Acquisition in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.
Read Our Latest Report on RDAC
Rising Dragon Acquisition Price Performance
Hedge Funds Weigh In On Rising Dragon Acquisition
Several institutional investors and hedge funds have recently added to or reduced their stakes in RDAC. Clear Street Group Inc. acquired a new stake in Rising Dragon Acquisition in the third quarter valued at approximately $88,000. JPMorgan Chase & Co. acquired a new position in shares of Rising Dragon Acquisition during the third quarter worth $520,000. Goldman Sachs Group Inc. lifted its stake in shares of 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 acquiring an additional 83,700 shares during the last quarter. Wolverine Asset Management LLC boosted its holdings in shares of Rising Dragon Acquisition by 1.1% during the 3rd quarter. Wolverine Asset Management LLC now owns 194,312 shares of the company’s stock valued at $2,023,000 after acquiring an additional 2,065 shares in the last quarter. Finally, Berkley W R Corp grew its position 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 worth $2,446,000 after acquiring an additional 5,002 shares during the last quarter.
About Rising Dragon Acquisition
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.
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