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

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 112,240 shares, a growth of 367.1% from the August 15th total of 24,030 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average trading volume of 354,125 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Rain Enhancement Technologies Holdco in a research report on Wednesday, August 19th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Rain Enhancement Technologies Holdco presently has a consensus rating of “Sell”.

Insider Activity

In other Rain Enhancement Technologies Holdco news, CEO Randy Seidl bought 110,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average cost of $0.95 per share, with a total value of $104,500.00. Following the acquisition, the chief executive officer directly owned 754,834 shares of the company’s stock, valued at $717,092.30. The trade was a 17.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 17.40% of the company’s stock.

Institutional Trading of Rain Enhancement Technologies Holdco

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its stake in shares of Rain Enhancement Technologies Holdco by 38,985.0% in the 3rd quarter. Bank of America Corp DE now owns 7,817 shares of the company’s stock valued at $43,000 after acquiring an additional 7,797 shares during the period. Quarry LP acquired a new stake in Rain Enhancement Technologies Holdco during the 4th quarter valued at approximately $88,000. Geode Capital Management LLC increased 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. Finally, Knott David M Jr bought a new stake in shares of Rain Enhancement Technologies Holdco in the 1st quarter worth about $258,000. 25.79% of the stock is owned by hedge funds and other institutional investors.

Rain Enhancement Technologies Holdco Stock Performance

RAIN stock traded down $0.01 during trading on Friday, reaching $0.76. 79,482 shares of the company were exchanged, compared to its average volume of 243,123. Rain Enhancement Technologies Holdco has a 52-week low of $0.70 and a 52-week high of $8.52. The company has a market cap of $8.83 million, a P/E ratio of -0.50 and a beta of -0.27. The stock’s 50 day moving average price is $1.27 and its 200 day moving average price is $1.98.

Rain Enhancement Technologies Holdco (NASDAQ:RAIN) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter.

Rain Enhancement Technologies Holdco Company Profile

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