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

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 23,113 shares, an increase of 153.5% from the December 15th total of 9,118 shares. Based on an average daily volume of 155,375 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.4% of the company’s shares are sold short. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 155,375 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Rising Dragon Acquisition in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Rising Dragon Acquisition

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake in shares of Rising Dragon Acquisition by 147.9% in the first quarter. Goldman Sachs Group Inc. now owns 140,300 shares of the company’s stock worth $1,430,000 after acquiring an additional 83,700 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in Rising Dragon Acquisition by 10.0% in the second quarter. Wolverine Asset Management LLC now owns 192,247 shares of the company’s stock valued at $1,980,000 after acquiring an additional 17,521 shares in the last quarter. Berkley W R Corp purchased a new position in Rising Dragon Acquisition in the second quarter worth approximately $2,366,000. JPMorgan Chase & Co. acquired a new position in Rising Dragon Acquisition during the 3rd quarter worth approximately $520,000. Finally, Clear Street Group Inc. purchased a new stake in shares of Rising Dragon Acquisition in the 3rd quarter valued at approximately $88,000.

Rising Dragon Acquisition Trading Down 1.2%

Shares of NASDAQ:RDAC opened at $7.66 on Friday. Rising Dragon Acquisition has a 12-month low of $7.49 and a 12-month high of $16.43. The business’s fifty day simple moving average is $10.05 and its 200-day simple moving average is $10.28.

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.