Rising Dragon Acquisition (NASDAQ:RDAC) Releases Quarterly Earnings Results

Rising Dragon Acquisition (NASDAQ:RDAC) issued its earnings results on Friday. The company reported $0.04 earnings per share for the quarter, FiscalAI reports.

Rising Dragon Acquisition Stock Up 2.0%

Shares of RDAC stock traded up $0.12 during trading hours on Friday, reaching $6.24. The company had a trading volume of 5,095 shares, compared to its average volume of 19,144. Rising Dragon Acquisition has a 12 month low of $4.59 and a 12 month high of $23.99. The business has a fifty day simple moving average of $6.13 and a 200-day simple moving average of $6.45.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Rising Dragon Acquisition

A number of hedge funds have recently bought and sold shares of RDAC. Goldman Sachs Group Inc. raised its holdings in shares of Rising Dragon Acquisition by 147.9% in the first quarter. Goldman Sachs Group Inc. now owns 140,300 shares of the company’s stock valued at $1,430,000 after purchasing an additional 83,700 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in Rising Dragon Acquisition in the 3rd quarter worth about $520,000. Finally, Clear Street Group Inc. increased its stake in Rising Dragon Acquisition by 281.7% in the 4th quarter. Clear Street Group Inc. now owns 32,305 shares of the company’s stock valued at $337,000 after buying an additional 23,842 shares during the last quarter.

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.