Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) Short Interest Up 367.1% in August

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) was the recipient of a significant growth in short interest in 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. Based on an average daily volume of 354,125 shares, the short-interest ratio is presently 0.3 days. Currently, 1.2% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, CEO Randy Seidl acquired 110,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were bought at an average cost of $0.95 per share, with a total value of $104,500.00. Following the completion of the acquisition, the chief executive officer owned 754,834 shares of the company’s stock, valued at $717,092.30. This trade represents a 17.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Rain Enhancement Technologies Holdco

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Knott David M Jr bought a new position in Rain Enhancement Technologies Holdco in the 1st quarter worth approximately $258,000. Geode Capital Management LLC boosted its position in Rain Enhancement Technologies Holdco by 29.2% in the 4th quarter. Geode Capital Management LLC now owns 21,682 shares of the company’s stock valued at $127,000 after buying an additional 4,896 shares during the last quarter. Quarry LP bought a new position in Rain Enhancement Technologies Holdco in the 4th quarter valued at $88,000. Finally, Bank of America Corp DE increased 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 buying an additional 7,797 shares during the period. Institutional investors and hedge funds own 25.79% of the company’s stock.

Analysts Set New Price Targets

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

Rain Enhancement Technologies Holdco Trading Down 3.1%

Shares of Rain Enhancement Technologies Holdco stock traded down $0.02 during trading on Friday, reaching $0.74. The company’s stock had a trading volume of 89,309 shares, compared to its average volume of 337,466. The stock has a 50-day moving average price of $1.24 and a two-hundred day moving average price of $1.97. Rain Enhancement Technologies Holdco has a one year low of $0.70 and a one year high of $8.52. The stock has a market capitalization of $8.65 million, a P/E ratio of -0.49 and a beta of -0.27.

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

About Rain Enhancement Technologies Holdco

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