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

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 15,654 shares, an increase of 180.7% from the June 30th total of 5,576 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily volume of 21,658 shares, the short-interest ratio is currently 0.7 days.

Institutional Trading of Rising Dragon Acquisition

Several large investors have recently made changes to their positions in RDAC. Goldman Sachs Group Inc. increased its holdings in shares of Rising Dragon Acquisition by 147.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 140,300 shares of the company’s stock valued at $1,430,000 after acquiring an additional 83,700 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Rising Dragon Acquisition in the 3rd quarter worth approximately $520,000. Finally, Clear Street Group Inc. boosted its position in Rising Dragon Acquisition by 281.7% during the fourth quarter. Clear Street Group Inc. now owns 32,305 shares of the company’s stock worth $337,000 after purchasing an additional 23,842 shares during the period.

Rising Dragon Acquisition Stock Up 1.6%

Shares of Rising Dragon Acquisition stock traded up $0.10 during midday trading on Monday, reaching $6.25. 11,543 shares of the company’s stock traded hands, compared to its average volume of 18,680. Rising Dragon Acquisition has a 52 week low of $4.59 and a 52 week high of $23.99. The company’s 50 day simple moving average is $6.71 and its 200 day simple moving average is $6.57.

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

Analysts Set New Price Targets

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