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 in December. As of December 31st, there was short interest totaling 23,113 shares, an increase of 153.5% from the December 15th total of 9,118 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average trading volume of 155,375 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 155,375 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.4% of the company’s stock are short sold.

Rising Dragon Acquisition Trading Down 6.4%

RDAC opened at $8.05 on Wednesday. Rising Dragon Acquisition has a one year low of $7.50 and a one year high of $16.43. The business’s 50-day simple moving average is $10.16 and its 200-day simple moving average is $10.31.

Analyst Ratings Changes

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

Institutional Trading of Rising Dragon Acquisition

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clear Street Group Inc. purchased a new stake in shares of Rising Dragon Acquisition during the 3rd quarter worth approximately $88,000. JPMorgan Chase & Co. purchased a new position in shares of Rising Dragon Acquisition in the 3rd quarter valued at $520,000. Goldman Sachs Group Inc. raised its stake in Rising Dragon Acquisition by 147.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 140,300 shares of the company’s stock worth $1,430,000 after acquiring an additional 83,700 shares in the last quarter. Wolverine Asset Management LLC lifted its position in Rising Dragon Acquisition by 10.0% in the second quarter. Wolverine Asset Management LLC now owns 192,247 shares of the company’s stock valued at $1,980,000 after acquiring an additional 17,521 shares during the last quarter. Finally, Berkley W R Corp purchased a new stake in Rising Dragon Acquisition in the second quarter valued at $2,366,000.

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.