Rain Enhancement Technologies Holdco (NASDAQ:RAIN) Trading Down 4.3% – Time to Sell?

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN)’s share price fell 4.3% on Wednesday . The company traded as low as $1.90 and last traded at $1.98. Approximately 30,803 shares changed hands during trading, a decline of 39% from the average session volume of 50,665 shares. The stock had previously closed at $2.07.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Rain Enhancement Technologies Holdco from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Rain Enhancement Technologies Holdco Price Performance

The company has a fifty day moving average price of $2.08 and a two-hundred day moving average price of $3.02. The firm has a market cap of $16.22 million, a price-to-earnings ratio of -1.58 and a beta of -0.25.

Rain Enhancement Technologies Holdco (NASDAQ:RAIN) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.24) earnings per share for the quarter. The business had revenue of $0.01 million for the quarter.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE grew its position in Rain Enhancement Technologies Holdco by 38,985.0% during the third quarter. Bank of America Corp DE now owns 7,817 shares of the company’s stock valued at $43,000 after purchasing an additional 7,797 shares in the last quarter. Clear Street Group Inc. acquired a new stake in shares of Rain Enhancement Technologies Holdco during the 3rd quarter valued at $53,000. Quarry LP acquired a new stake in shares of Rain Enhancement Technologies Holdco during the 4th quarter valued at $88,000. Geode Capital Management LLC grew its holdings in shares of Rain Enhancement Technologies Holdco by 29.2% during the 4th quarter. Geode Capital Management LLC now owns 21,682 shares of the company’s stock valued at $127,000 after acquiring an additional 4,896 shares in the last quarter. Finally, Harraden Circle Investments LLC acquired a new position in shares of Rain Enhancement Technologies Holdco in the third quarter worth $332,000. 25.79% of the stock is owned by institutional investors and hedge funds.

Rain Enhancement Technologies Holdco Company Profile

As of January 26, 2024, operates as a subsidiary of Pathos AI, Inc