Rain Enhancement Technologies Holdco (NASDAQ:RAIN) Trading Down 4.3% – Here’s What Happened

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

Wall Street Analyst Weigh In

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

Rain Enhancement Technologies Holdco Stock Performance

The firm has a market cap of $16.09 million, a price-to-earnings ratio of -1.57 and a beta of -0.25. The firm’s 50 day moving average is $2.06 and its 200-day moving average is $2.99.

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

Institutional Investors Weigh In On Rain Enhancement Technologies Holdco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Knott David M Jr bought a new stake in Rain Enhancement Technologies Holdco during the first quarter worth approximately $258,000. Harraden Circle Investments LLC acquired a new stake in shares of Rain Enhancement Technologies Holdco in the third quarter worth $332,000. Geode Capital Management LLC lifted its stake in shares of Rain Enhancement Technologies Holdco by 29.2% in the fourth quarter. Geode Capital Management LLC now owns 21,682 shares of the company’s stock worth $127,000 after buying an additional 4,896 shares during the last quarter. Quarry LP bought a new stake in shares of Rain Enhancement Technologies Holdco during the 4th quarter worth $88,000. Finally, Clear Street Group Inc. bought a new stake in shares of Rain Enhancement Technologies Holdco during the 3rd quarter worth $53,000. 25.79% of the stock is currently owned by institutional investors and hedge funds.

About Rain Enhancement Technologies Holdco

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