Rain Enhancement Technologies Holdco (NASDAQ:RAIN) Shares Down 12% – Here’s What Happened

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) shares were down 12% on Thursday . The company traded as low as $2.18 and last traded at $2.34. Approximately 28,360 shares traded hands during trading, an increase of 33% from the average daily volume of 21,374 shares. The stock had previously closed at $2.66.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Rain Enhancement Technologies Holdco in a research note on Monday, December 29th. One 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 Price Performance

The stock’s 50 day simple moving average is $2.69 and its two-hundred day simple moving average is $4.31. The stock has a market cap of $19.16 million, a price-to-earnings ratio of -3.77 and a beta of -0.17.

Institutional Investors Weigh In On Rain Enhancement Technologies Holdco

Institutional investors have recently bought and sold shares of the business. Harraden Circle Investments LLC bought a new position in shares of Rain Enhancement Technologies Holdco during the third quarter valued at $332,000. Geode Capital Management LLC increased its position in shares of Rain Enhancement Technologies Holdco by 29.2% during the 4th quarter. Geode Capital Management LLC now owns 21,682 shares of the company’s stock worth $127,000 after purchasing an additional 4,896 shares in the last quarter. Quarry LP acquired a new stake in shares of Rain Enhancement Technologies Holdco during the 4th quarter worth about $88,000. Clear Street Group Inc. acquired a new stake in shares of Rain Enhancement Technologies Holdco during the 3rd quarter worth about $53,000. Finally, Bank of America Corp DE increased its position in shares of Rain Enhancement Technologies Holdco by 38,985.0% during the 3rd quarter. Bank of America Corp DE now owns 7,817 shares of the company’s stock worth $43,000 after purchasing an additional 7,797 shares in the last quarter. Institutional investors and hedge funds own 25.79% of the company’s stock.

About Rain Enhancement Technologies Holdco

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