Research Alliance Corporation IV (NASDAQ:RACD) Stock Short Interest Jumps 1,178.3%

Research Alliance Corporation IV (NASDAQ:RACD) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 2,595 shares, a growth of 1,178.3% from the August 31st total of 203 shares. Based on an average daily trading volume, of 2,217 shares, the short-interest ratio is currently 1.2 days. Approximately 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Research Alliance Corporation IV to a “hold” rating in a research note on Saturday, July 18th.

Research Alliance Corporation IV Stock Performance

NASDAQ RACD remained flat at $12.00 on Thursday. 17,109 shares of the company’s stock traded hands, compared to its average volume of 2,634. Research Alliance Corporation IV has a 1 year low of $10.00 and a 1 year high of $13.64. The firm’s 50 day simple moving average is $11.70.

Research Alliance Corporation IV Company Profile

Research Alliance Corporation IV is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Its potential transaction could take the form of a merger, share exchange, asset acquisition, reorganization, or similar corporate combination.

As a SPAC, Research Alliance Corporation IV does not currently operate a traditional business and does not appear to offer products or services of its own. Its activities are focused on evaluating potential acquisition targets and completing an initial business combination.

Publicly available information about the company’s target industry, geographic focus, operating history, and leadership is limited.