Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Short Interest Up 104.3% in December

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 9,118 shares, a growth of 104.3% from the November 30th total of 4,464 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 42,500 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 42,500 shares, the short-interest ratio is currently 0.2 days. Approximately 0.2% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Rising Dragon Acquisition

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Berkley W R Corp acquired a new stake in shares of Rising Dragon Acquisition during the second quarter worth $2,366,000. Goldman Sachs Group Inc. increased its stake 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 in the last quarter. JPMorgan Chase & Co. acquired a new stake in Rising Dragon Acquisition during the 3rd quarter worth about $520,000. Wolverine Asset Management LLC raised 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 period. Finally, Clear Street Group Inc. acquired a new position in shares of Rising Dragon Acquisition in the third quarter worth about $88,000.

Rising Dragon Acquisition Stock Up 4.6%

NASDAQ RDAC opened at $10.97 on Friday. The company has a 50-day simple moving average of $10.50 and a 200-day simple moving average of $10.41. Rising Dragon Acquisition has a one year low of $7.50 and a one year high of $16.43.

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.