Research Alliance Corporation III (NASDAQ:RACC) Sees Large Drop in Short Interest

Research Alliance Corporation III (NASDAQ:RACC) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 5,260 shares, a decline of 48.8% from the August 15th total of 10,273 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 36,895 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

Several analysts have weighed in on RACC shares. Weiss Ratings started coverage on Research Alliance Corporation III in a report on Friday, August 14th. They set a “sell (e)” rating for the company. Wall Street Zen raised Research Alliance Corporation III to a “hold” rating in a research note on Saturday, May 30th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Research Alliance Corporation III presently has a consensus rating of “Sell”.

Research Alliance Corporation III Price Performance

RACC stock traded down $0.00 during trading hours on Tuesday, reaching $11.30. The stock had a trading volume of 15,574 shares, compared to its average volume of 63,892. The company’s 50-day moving average is $17.63. Research Alliance Corporation III has a fifty-two week low of $10.21 and a fifty-two week high of $33.50.

Research Alliance Corporation III (NASDAQ:RACC) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.01 EPS for the quarter.

Research Alliance Corporation III Company Profile

Research Alliance Corporation III is a blank check company. It formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Research Alliance Corporation III is based in New York.