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

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) was the target of a large growth in short interest during the month of April. As of April 30th, there was short interest totaling 84,044 shares, a growth of 1,802.3% from the April 15th total of 4,418 shares. Based on an average daily trading volume, of 1,572,176 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.8% of the shares of the company are sold short.

Institutional Trading of Rising Dragon Acquisition

Several hedge funds and other institutional investors have recently bought and sold shares of RDAC. Goldman Sachs Group Inc. grew its position in Rising Dragon Acquisition by 147.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 140,300 shares of the company’s stock worth $1,430,000 after purchasing an additional 83,700 shares during the last quarter. Wolverine Asset Management LLC grew its position in Rising Dragon Acquisition by 1.1% in the 3rd quarter. Wolverine Asset Management LLC now owns 194,312 shares of the company’s stock worth $2,023,000 after purchasing an additional 2,065 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Rising Dragon Acquisition in the 3rd quarter worth $520,000. Berkley W R Corp grew its position in Rising Dragon Acquisition by 2.2% in the 3rd quarter. Berkley W R Corp now owns 234,708 shares of the company’s stock worth $2,446,000 after purchasing an additional 5,002 shares during the last quarter. Finally, Clear Street Group Inc. acquired a new stake in Rising Dragon Acquisition in the 3rd quarter worth $88,000.

Rising Dragon Acquisition Price Performance

Shares of RDAC stock remained flat at $8.12 during trading hours on Wednesday. The stock had a trading volume of 8,372 shares, compared to its average volume of 226,216. Rising Dragon Acquisition has a one year low of $4.59 and a one year high of $23.99. The business’s fifty day simple moving average is $6.11 and its two-hundred day simple moving average is $7.92.

Rising Dragon Acquisition (NASDAQ:RDAC) last issued its quarterly earnings results on Monday, March 30th. The company reported $0.06 EPS for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Rising Dragon Acquisition in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Rising Dragon Acquisition currently has a consensus rating of “Sell”.

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.