Oriental Rise (NASDAQ:ORIS) Shares Set to Reverse Split on Monday, June 22nd

Oriental Rise Holdings Limited (NASDAQ:ORIS)’s stock is scheduled to reverse split on Monday, June 22nd. The 1-4 reverse split was announced on Friday, May 15th. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, June 21st.

Oriental Rise Trading Up 5.4%

Shares of ORIS traded up $0.03 during midday trading on Thursday, hitting $0.57. The company’s stock had a trading volume of 212,228 shares, compared to its average volume of 822,764. Oriental Rise has a one year low of $0.28 and a one year high of $20.00. The company’s fifty day simple moving average is $0.52 and its two-hundred day simple moving average is $1.10.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Oriental Rise in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

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.