Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) Sees Significant Decrease in Short Interest

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) was the recipient of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 6,671 shares, a decrease of 45.1% from the April 15th total of 12,159 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 9,382 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Rain Enhancement Technologies Holdco from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Rain Enhancement Technologies Holdco Price Performance

RAIN stock traded down $0.10 during trading on Monday, reaching $1.64. 14,445 shares of the stock traded hands, compared to its average volume of 24,749. The business’s 50 day moving average price is $2.50 and its 200-day moving average price is $3.77. Rain Enhancement Technologies Holdco has a 52-week low of $1.26 and a 52-week high of $8.52. The firm has a market capitalization of $13.39 million, a PE ratio of -1.31 and a beta of -0.30.

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

Institutional Investors Weigh In On Rain Enhancement Technologies Holdco

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Rain Enhancement Technologies Holdco by 29.2% during the fourth 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 during the period. Harraden Circle Investments LLC purchased a new stake in Rain Enhancement Technologies Holdco during the third quarter valued at about $332,000. Clear Street Group Inc. purchased a new stake in Rain Enhancement Technologies Holdco during the third quarter valued at about $53,000. Quarry LP purchased a new stake in shares of Rain Enhancement Technologies Holdco in the fourth quarter worth about $88,000. Finally, Knott David M Jr purchased a new stake in shares of Rain Enhancement Technologies Holdco in the first quarter worth about $258,000. Hedge funds and other institutional investors own 25.79% of the company’s stock.

Rain Enhancement Technologies Holdco Company Profile

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