Research Alliance Corporation III (NASDAQ:RACC) Sees Large Drop in Short Interest

Research Alliance Corporation III (NASDAQ:RACC) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 5,260 shares, a decrease of 48.8% from the August 15th total of 10,273 shares. Based on an average daily trading volume, of 36,895 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

Analysts Set New Price Targets

RACC has been the topic of several recent analyst reports. Weiss Ratings began coverage on Research Alliance Corporation III in a research note on Friday, August 14th. They set a “sell (e)” rating on the stock. Wall Street Zen raised Research Alliance Corporation III to a “hold” rating in a research note on Saturday, May 30th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Research Alliance Corporation III Stock Down 0.0%

RACC traded down $0.00 during midday trading on Tuesday, reaching $11.30. The company’s stock had a trading volume of 15,574 shares, compared to its average volume of 63,892. The firm has a fifty day simple moving average of $17.63. Research Alliance Corporation III has a twelve month low of $10.21 and a twelve month high of $33.50.

Research Alliance Corporation III (NASDAQ:RACC) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.01 EPS for the quarter.

Research Alliance Corporation III Company Profile

Research Alliance Corporation III is a blank check company. It formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Research Alliance Corporation III is based in New York.