Oriental Rise Holdings Limited (NASDAQ:ORIS) Sees Large Increase in Short Interest

Oriental Rise Holdings Limited (NASDAQ:ORIS) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 320,955 shares, a growth of 441.2% from the February 26th total of 59,308 shares. Approximately 29.2% of the company’s stock are short sold. Based on an average trading volume of 135,672 shares, the days-to-cover ratio is presently 2.4 days. Based on an average trading volume of 135,672 shares, the days-to-cover ratio is presently 2.4 days. Approximately 29.2% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several analysts have issued reports on ORIS shares. Wall Street Zen downgraded Oriental Rise to a “strong sell” rating in a research note on Saturday, January 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Oriental Rise in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Oriental Rise Stock Up 18.9%

Oriental Rise stock opened at $0.76 on Wednesday. Oriental Rise has a 1-year low of $0.28 and a 1-year high of $26.60. The company has a fifty day simple moving average of $1.10 and a 200 day simple moving average of $2.11.

About Oriental Rise

Oriental Rise Acquisition Corp. (NASDAQ: ORIS) is a special purpose acquisition company formed to raise capital through an initial public offering with the objective of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination. As a blank-check company, Oriental Rise does not conduct any operations of its own until it identifies a suitable target business for acquisition.

The company seeks to partner with businesses operating in high-growth sectors across Asia, including Greater China and Southeast Asia.