Rising Dragon Acquisition's (RDAC) "Sell (D-)" Rating Reiterated at Weiss Ratings

Key Points

• Rising Dragon Acquisition's stock has been given a "Sell (D-)" rating by analysts at Weiss Ratings, indicating a negative outlook for the company's performance.
• The stock opened at $10.44 and has fluctuated between a 12-month low of $9.99 and a high of $10.47.
• Institutional investors have recently shown increasing interest in RDAC, with Goldman Sachs growing its stake by 147.9% in the first quarter.

Rising Dragon Acquisition (NASDAQ:RDAC - Get Free Report)'s stock had its "sell (d-)" rating reiterated by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Rising Dragon Acquisition Trading Up 0.1%

RDAC opened at $10.44 on Wednesday. The stock has a fifty day simple moving average of $10.38 and a two-hundred day simple moving average of $10.30. Rising Dragon Acquisition has a 12-month low of $9.99 and a 12-month high of $10.47.

Hedge Funds Weigh In On Rising Dragon Acquisition

A number of institutional investors have recently added to or reduced their stakes in the company. Berkley W R Corp bought a new position in Rising Dragon Acquisition in the second quarter worth $2,366,000. Wolverine Asset Management LLC grew its stake in shares of Rising Dragon Acquisition by 10.0% in the second quarter. Wolverine Asset Management LLC now owns 192,247 shares of the company's stock worth $1,980,000 after acquiring an additional 17,521 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Rising Dragon Acquisition by 147.9% in the first quarter. Goldman Sachs Group Inc. now owns 140,300 shares of the company's stock worth $1,430,000 after acquiring an additional 83,700 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its stake in shares of Rising Dragon Acquisition by 0.4% in the first quarter. Mizuho Securities USA LLC now owns 580,088 shares of the company's stock worth $5,870,000 after acquiring an additional 2,128 shares during the last quarter.

About Rising Dragon Acquisition

Rising Dragon Acquisition Corp. is a blank check company. It was formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses. The company was founded on March 8, 2024 and is headquartered in Taiyuan, China.

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