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

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

Hedge Funds Weigh In On Rain Enhancement Technologies Holdco

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in 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 acquiring an additional 4,896 shares during the period. Bank of America Corp DE increased its position in 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 valued at $43,000 after purchasing an additional 7,797 shares during the period. Clear Street Group Inc. purchased a new stake in shares of Rain Enhancement Technologies Holdco in the 3rd quarter worth approximately $53,000. Quarry LP purchased a new stake in shares of Rain Enhancement Technologies Holdco in the 4th quarter worth approximately $88,000. Finally, Harraden Circle Investments LLC bought a new position in shares of Rain Enhancement Technologies Holdco during the third quarter valued at approximately $332,000. Hedge funds and other institutional investors own 25.79% of the company’s stock.

Rain Enhancement Technologies Holdco Trading Up 0.6%

Shares of Rain Enhancement Technologies Holdco stock traded up $0.01 on Friday, hitting $1.74. 22,957 shares of the company traded hands, compared to its average volume of 21,068. The company has a market cap of $14.25 million, a PE ratio of -1.44 and a beta of -0.30. The stock’s 50 day moving average price is $2.50 and its 200-day moving average price is $3.78. Rain Enhancement Technologies Holdco has a 52 week low of $1.26 and a 52 week high of $8.52.

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

Analysts Set New Price Targets

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

Rain Enhancement Technologies Holdco Company Profile

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