Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Short Interest Down 71.5% in July

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 4,469 shares, a drop of 71.5% from the July 15th total of 15,654 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 16,269 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Rising Dragon Acquisition in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Rising Dragon Acquisition Stock Down 2.4%

Shares of NASDAQ:RDAC traded down $0.15 during trading on Friday, reaching $6.00. 847 shares of the stock were exchanged, compared to its average volume of 10,299. The firm’s 50-day moving average price is $6.01 and its 200 day moving average price is $6.41. Rising Dragon Acquisition has a 12-month low of $4.59 and a 12-month high of $23.99.

Rising Dragon Acquisition (NASDAQ:RDAC) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.04 EPS for the quarter.

Institutional Trading of Rising Dragon Acquisition

Institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its position 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 purchasing an additional 83,700 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Rising Dragon Acquisition during the third quarter worth about $520,000. Finally, Clear Street Group Inc. boosted its position in shares of Rising Dragon Acquisition by 281.7% in the fourth quarter. Clear Street Group Inc. now owns 32,305 shares of the company’s stock worth $337,000 after buying an additional 23,842 shares during the period.

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.