Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Sees Significant Decrease in Short Interest

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) saw a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 15,846 shares, a decrease of 31.4% from the December 31st total of 23,113 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily volume of 25,003 shares, the short-interest ratio is presently 0.6 days. Based on an average daily volume of 25,003 shares, the short-interest ratio is presently 0.6 days. Approximately 0.3% of the company’s shares are short sold.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

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

Rising Dragon Acquisition Price Performance

RDAC stock traded down $0.17 during mid-day trading on Friday, reaching $7.25. The company had a trading volume of 21,112 shares, compared to its average volume of 18,058. Rising Dragon Acquisition has a fifty-two week low of $6.54 and a fifty-two week high of $16.43. The firm has a fifty day simple moving average of $9.16 and a 200 day simple moving average of $10.06.

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.