Short Interest in Oriental Rise Holdings Limited (NASDAQ:ORIS) Drops By 90.5%

Oriental Rise Holdings Limited (NASDAQ:ORIS) saw a significant decline in short interest in December. As of December 31st, there was short interest totaling 149,449 shares, a decline of 90.5% from the December 15th total of 1,581,141 shares. Based on an average daily volume of 1,069,375 shares, the days-to-cover ratio is currently 0.1 days. Currently, 13.6% of the shares of the stock are sold short. Currently, 13.6% of the shares of the stock are sold short. Based on an average daily volume of 1,069,375 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Oriental Rise to a “strong sell” rating in a research note on Saturday, January 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of Oriental Rise in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Oriental Rise Stock Performance

Shares of NASDAQ ORIS traded up $0.07 during trading hours on Monday, reaching $1.34. 316,666 shares of the stock traded hands, compared to its average volume of 690,199. The company’s 50-day simple moving average is $2.09 and its two-hundred day simple moving average is $3.73. Oriental Rise has a 52-week low of $1.11 and a 52-week high of $45.60.

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.