Rain Enhancement Technologies Holdco (NASDAQ:RAIN) Stock Price Down 9.3% – What’s Next?

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN)’s share price dropped 9.3% on Thursday . The stock traded as low as $0.9644 and last traded at $0.97. Approximately 272,996 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 1,550,468 shares. The stock had previously closed at $1.07.

Wall Street Analyst Weigh In

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

Rain Enhancement Technologies Holdco Trading Down 5.2%

The company has a 50 day simple moving average of $1.72 and a two-hundred day simple moving average of $2.20. The firm has a market capitalization of $7.53 million, a P/E ratio of -0.74 and a beta of -0.22.

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

Institutional Trading of Rain Enhancement Technologies Holdco

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Knott David M Jr bought a new position in shares of Rain Enhancement Technologies Holdco during the 1st quarter valued at about $258,000. Quarry LP bought a new stake in shares of Rain Enhancement Technologies Holdco in the fourth quarter worth about $88,000. Geode Capital Management LLC lifted its position in shares of 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 buying an additional 4,896 shares in the last quarter. Finally, Bank of America Corp DE boosted 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 valued at $43,000 after buying an additional 7,797 shares during the last quarter. 25.79% of the stock is currently owned by institutional investors.

Rain Enhancement Technologies Holdco Company Profile

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