Rain Enhancement Technologies Holdco (NASDAQ:RAIN) Trading Up 10.6% – Here’s What Happened

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN)’s share price was up 10.6% on Wednesday . The stock traded as high as $1.82 and last traded at $1.77. Approximately 12,379 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 35,624 shares. The stock had previously closed at $1.60.

Wall Street Analysts Forecast Growth

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

Rain Enhancement Technologies Holdco Stock Up 10.6%

The company’s 50-day moving average is $2.01 and its two-hundred day moving average is $2.49. The company has a market capitalization of $14.50 million, a P/E ratio of -1.42 and a beta of -0.25.

Rain Enhancement Technologies Holdco (NASDAQ:RAIN) last announced its 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 for the quarter.

Institutional Trading of Rain Enhancement Technologies Holdco

A number of hedge funds have recently made changes to their positions in the stock. Knott David M Jr bought a new position in Rain Enhancement Technologies Holdco in the first quarter valued at $258,000. Quarry LP purchased a new stake in Rain Enhancement Technologies Holdco during the fourth quarter valued at about $88,000. Bank of America Corp DE lifted its stake in Rain Enhancement Technologies Holdco by 38,985.0% during the third 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 during the last quarter. Finally, Geode Capital Management LLC lifted its stake 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 worth $127,000 after purchasing an additional 4,896 shares during the last quarter. 25.79% of the stock is owned by institutional investors.

Rain Enhancement Technologies Holdco Company Profile

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