Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Shares Shorted: Short Interest Down 45.6% in September

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 33,308 shares, a decline of 45.6% from the September 15th total of 61,282 shares. Based on an average daily volume of 20,741 shares, the short-interest ratio is presently 1.6 days. Approximately 1.4% of the shares of the stock are sold short.

Rising Dragon Acquisition Price Performance

Shares of RDAC traded up $0.16 during mid-day trading on Thursday, hitting $5.21. The company had a trading volume of 3,096 shares, compared to its average volume of 341,677. Rising Dragon Acquisition has a 1-year low of $4.50 and a 1-year high of $23.99. The business’s 50-day simple moving average is $5.76 and its 200-day simple moving average is $6.39.

Rising Dragon Acquisition (NASDAQ:RDAC) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.04 EPS for the quarter.

Institutional Trading of Rising Dragon Acquisition

An institutional investor recently raised its position in Rising Dragon Acquisition stock. Clear Street Group Inc. increased its position in Rising Dragon Acquisition Corp. (NASDAQ:RDAC) by 281.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,305 shares of the company’s stock after buying an additional 23,842 shares during the quarter. Clear Street Group Inc. owned about 0.43% of Rising Dragon Acquisition worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Rising Dragon Acquisition in a research note on Friday, September 25th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Rising Dragon Acquisition Company Profile

Rising Dragon Acquisition Corp. (NASDAQ: RDAC) is a special purpose acquisition company, or blank-check company. It was established to pursue a business combination with an operating company through a merger, share exchange, asset acquisition, stock purchase, reorganization or similar transaction.

Unlike an operating company, Rising Dragon Acquisition Corp. does not have a portfolio of products or services of its own. Its primary corporate activity is identifying and completing a transaction with a private business that could become a publicly traded company.

The company is incorporated in the Cayman Islands.