Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) Short Interest Update

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 55,695 shares, an increase of 661.5% from the May 14th total of 7,314 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily volume of 61,198 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Investors Weigh In On Rain Enhancement Technologies Holdco

Hedge funds have recently added to or reduced their stakes in the stock. Knott David M Jr bought a new position in shares of Rain Enhancement Technologies Holdco during the first quarter valued at $258,000. Harraden Circle Investments LLC purchased a new stake in Rain Enhancement Technologies Holdco during the 3rd quarter valued at about $332,000. Quarry LP bought a new stake in Rain Enhancement Technologies Holdco during the 4th quarter valued at about $88,000. Clear Street Group Inc. purchased a new position in Rain Enhancement Technologies Holdco in the third quarter worth about $53,000. Finally, Bank of America Corp DE raised its holdings in Rain Enhancement Technologies Holdco by 38,985.0% in the third quarter. Bank of America Corp DE now owns 7,817 shares of the company’s stock worth $43,000 after buying an additional 7,797 shares during the last quarter. 25.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings raised Rain Enhancement Technologies Holdco from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Rain Enhancement Technologies Holdco presently has an average rating of “Sell”.

Rain Enhancement Technologies Holdco Trading Down 0.5%

RAIN traded down $0.01 during midday trading on Wednesday, reaching $2.08. The company’s stock had a trading volume of 6,365 shares, compared to its average volume of 27,504. Rain Enhancement Technologies Holdco has a 1 year low of $1.26 and a 1 year high of $8.52. The stock’s 50-day moving average is $2.23 and its 200-day moving average is $3.38. The firm has a market capitalization of $17.04 million, a price-to-earnings ratio of -1.66 and a beta of -0.27.

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

Rain Enhancement Technologies Holdco Company Profile

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