Oriental Rise Holdings Limited (NASDAQ:ORIS) Sees Large Growth in Short Interest

Oriental Rise Holdings Limited (NASDAQ:ORIS) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totaling 1,581,141 shares, an increase of 59.2% from the November 30th total of 993,266 shares. Based on an average daily volume of 2,128,336 shares, the short-interest ratio is presently 0.7 days. Approximately 7.2% of the company’s stock are short sold. Approximately 7.2% of the company’s stock are short sold. Based on an average daily volume of 2,128,336 shares, the short-interest ratio is presently 0.7 days.

Oriental Rise Price Performance

NASDAQ:ORIS traded up $0.00 during midday trading on Monday, hitting $0.06. 5,198,825 shares of the stock were exchanged, compared to its average volume of 13,181,387. The business has a 50-day moving average price of $0.12 and a two-hundred day moving average price of $0.25. Oriental Rise has a one year low of $0.06 and a one year high of $2.85.

Oriental Rise’s stock is going to reverse split on Tuesday, December 30th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 29th.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Oriental Rise in a research note on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Oriental Rise Company Profile

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.