Research Alliance Corporation III (NASDAQ:RACC – Get Free Report) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 5,260 shares, a drop of 48.8% from the August 15th total of 10,273 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 36,895 shares, the days-to-cover ratio is presently 0.1 days.
Wall Street Analyst Weigh In
Several research analysts have commented on RACC shares. Weiss Ratings began coverage on Research Alliance Corporation III in a research note on Friday, August 14th. They set a “sell (e)” rating for the company. Wall Street Zen raised shares of Research Alliance Corporation III to a “hold” rating in a report on Saturday, May 30th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.
View Our Latest Stock Report on Research Alliance Corporation III
Research Alliance Corporation III Stock Performance
Research Alliance Corporation III (NASDAQ:RACC – Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.01 earnings per share (EPS) for the quarter.
Research Alliance Corporation III Company Profile
Research Alliance Corporation III is a special purpose acquisition company (SPAC) formed to identify and complete a business combination, such as a merger, stock purchase, asset acquisition, reorganization or similar transaction, with one or more operating businesses.
Unlike an operating company, Research Alliance Corporation III does not manufacture products or provide services directly. Its activities are primarily focused on evaluating potential acquisition targets, conducting due diligence and negotiating a transaction that would allow a private company to become publicly traded.
The company’s public filings provide limited information about its operating history, geographic markets and management beyond its role as an acquisition vehicle.
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