Rising Dragon Acquisition Corp. (NASDAQ:RDAC – Get Free Report) saw a large decrease in short interest in May. As of May 15th, there was short interest totaling 9,967 shares, a decrease of 88.1% from the April 30th total of 84,044 shares. Based on an average daily trading volume, of 110,076 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.2% of the shares of the stock are sold short.
Institutional Investors Weigh In On Rising Dragon Acquisition
Hedge funds have recently added to or reduced their stakes in the stock. Clear Street Group Inc. bought a new stake in Rising Dragon Acquisition during the 3rd quarter worth about $88,000. JPMorgan Chase & Co. bought a new stake in Rising Dragon Acquisition during the 3rd quarter worth about $520,000. Goldman Sachs Group Inc. boosted 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 purchasing an additional 83,700 shares during the last quarter. Finally, Berkley W R Corp boosted its stake 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.
Rising Dragon Acquisition Stock Up 2.5%
NASDAQ:RDAC traded up $0.23 during mid-day trading on Thursday, reaching $9.54. 6,438 shares of the company were exchanged, compared to its average volume of 204,245. Rising Dragon Acquisition has a 12 month low of $4.59 and a 12 month high of $23.99. The company has a fifty day moving average of $6.94 and a 200 day moving average of $7.80.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated 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, Rising Dragon Acquisition currently has an average rating of “Sell”.
View Our Latest Stock Analysis on Rising Dragon Acquisition
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.
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