Rising Dragon Acquisition (NASDAQ:RDAC) Issues Earnings Results

Rising Dragon Acquisition (NASDAQ:RDAC) announced its quarterly earnings data on Wednesday. The company reported $0.06 earnings per share for the quarter, FiscalAI reports.

Rising Dragon Acquisition Stock Up 1.9%

Shares of NASDAQ:RDAC traded up $0.16 during trading on Friday, hitting $8.71. 17,519 shares of the company were exchanged, compared to its average volume of 221,517. Rising Dragon Acquisition has a 1-year low of $4.59 and a 1-year high of $23.99. The business’s 50 day moving average is $6.24 and its 200-day moving average is $7.89.

Hedge Funds Weigh In On Rising Dragon Acquisition

Institutional investors and hedge funds have recently bought and sold shares of the company. Berkley W R Corp raised its position in Rising Dragon Acquisition by 2.2% in the third quarter. Berkley W R Corp now owns 234,708 shares of the company’s stock valued at $2,446,000 after purchasing an additional 5,002 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Rising Dragon Acquisition by 147.9% during the first 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 increased its stake in shares of Rising Dragon Acquisition by 1.1% in the third quarter. Wolverine Asset Management LLC now owns 194,312 shares of the company’s stock valued at $2,023,000 after buying an additional 2,065 shares during the period. Clear Street Group Inc. bought a new position in Rising Dragon Acquisition in the 3rd quarter valued at approximately $88,000. Finally, JPMorgan Chase & Co. bought a new position in Rising Dragon Acquisition in the 3rd quarter valued at approximately $520,000.

Wall Street Analyst Weigh In

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

Rising Dragon Acquisition Company Profile

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.