Rising Dragon Acquisition (NASDAQ:RDAC) Stock Price Down 2.1% – Should You Sell?

Shares of Rising Dragon Acquisition Corp. (NASDAQ:RDAC) traded down 2.1% during mid-day trading on Thursday . The stock traded as low as $5.50 and last traded at $5.6950. Approximately 2,974 shares traded hands during trading, a decline of 51% from the average session volume of 6,038 shares. The stock had previously closed at $5.82.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Rising Dragon Acquisition in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Rising Dragon Acquisition Trading Down 0.1%

The company’s fifty day simple moving average is $7.61 and its two-hundred day simple moving average is $7.34.

Rising Dragon Acquisition (NASDAQ:RDAC) last released its earnings results on Monday, March 30th. The company reported $0.06 earnings per share for the quarter.

Institutional Trading of Rising Dragon Acquisition

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings 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 buying an additional 83,700 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Rising Dragon Acquisition in the 3rd quarter valued at approximately $520,000. Clear Street Group Inc. increased its holdings in shares of Rising Dragon Acquisition by 281.7% in the 4th quarter. Clear Street Group Inc. now owns 32,305 shares of the company’s stock valued at $337,000 after acquiring an additional 23,842 shares during the last quarter. Finally, Berkley W R Corp raised its position in shares of Rising Dragon Acquisition by 2.2% during the 3rd quarter. Berkley W R Corp now owns 234,708 shares of the company’s stock valued at $2,446,000 after acquiring an additional 5,002 shares in the last quarter.

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.