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

Shares of Oriental Rise Holdings Limited (NASDAQ:ORIS) are set to reverse split before the market opens on Monday, June 22nd. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, June 21st.

Oriental Rise Stock Up 3.1%

NASDAQ:ORIS traded up $0.02 during mid-day trading on Wednesday, hitting $0.54. 100,729 shares of the company’s stock were exchanged, compared to its average volume of 828,316. Oriental Rise has a fifty-two week low of $0.28 and a fifty-two week high of $20.00. The company has a 50 day simple moving average of $0.53 and a 200-day simple moving average of $1.11.

Wall Street Analyst Weigh In

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