Rain Enhancement Technologies Holdco (NASDAQ:RAIN) Trading 7.6% Higher – Here’s What Happened

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) shares were up 7.6% during mid-day trading on Thursday . The stock traded as high as $0.7773 and last traded at $0.7625. 90,708 shares changed hands during trading, a decline of 74% from the average session volume of 349,362 shares. The stock had previously closed at $0.7087.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Rain Enhancement Technologies Holdco in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Rain Enhancement Technologies Holdco presently has a consensus rating of “Sell”.

Rain Enhancement Technologies Holdco Trading Up 7.6%

The business’s 50 day simple moving average is $1.27 and its two-hundred day simple moving average is $1.98. The firm has a market capitalization of $8.92 million, a PE ratio of -0.50 and a beta of -0.27.

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

Insider Transactions at Rain Enhancement Technologies Holdco

In other news, CEO Randy Seidl bought 110,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were acquired at an average cost of $0.95 per share, with a total value of $104,500.00. Following the completion of the transaction, the chief executive officer owned 754,834 shares of the company’s stock, valued at approximately $717,092.30. This trade represents a 17.06% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Rain Enhancement Technologies Holdco

Several hedge funds and other institutional investors have recently made changes to their positions in RAIN. Knott David M Jr bought a new position in shares of Rain Enhancement Technologies Holdco in the 1st quarter worth approximately $258,000. Quarry LP purchased a new position in shares of Rain Enhancement Technologies Holdco in the fourth quarter worth approximately $88,000. 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 buying an additional 4,896 shares during the period. Finally, Bank of America Corp DE grew its position 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 period. 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