Rás

As defined by A Concise Dictionary of Old Icelandic (Geir Zoëga):

rás Old Icelandic word can mean:

rás

f.

rás

1) race, running (ek setta hestinn á ~); taka (hafa, hefja) á r., to take to one’s heels, run off (tók Egill þegar á rás frá bœnum);

rás

2) course, channel (um leyniligar jarðarinnar rásir);

rás

3) company, host (allar rásir heilagra manna).

Possible runic inscription in Younger Futhark:ᚱᛅᛋ