Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN – Get Free Report) saw a significant growth in short interest in May. As of May 29th, there was short interest totaling 55,695 shares, a growth of 661.5% from the May 14th total of 7,314 shares. Based on an average daily volume of 61,198 shares, the days-to-cover ratio is currently 0.9 days. Approximately 1.3% of the company’s stock are short sold.
Institutional Investors Weigh In On Rain Enhancement Technologies Holdco
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Knott David M Jr purchased a new position in shares of Rain Enhancement Technologies Holdco in the first quarter valued at $258,000. Harraden Circle Investments LLC purchased a new position in shares of Rain Enhancement Technologies Holdco in the third quarter valued at $332,000. Geode Capital Management LLC grew 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 valued at $127,000 after purchasing an additional 4,896 shares in the last quarter. Quarry LP purchased a new position in shares of Rain Enhancement Technologies Holdco in the fourth quarter valued at $88,000. Finally, Clear Street Group Inc. purchased a new position in shares of Rain Enhancement Technologies Holdco in the third quarter valued at $53,000. 25.79% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Separately, Weiss Ratings upgraded Rain Enhancement Technologies Holdco from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Rain Enhancement Technologies Holdco has a consensus rating of “Sell”.
Rain Enhancement Technologies Holdco Trading Up 2.7%
Shares of RAIN stock traded up $0.06 on Thursday, hitting $2.07. 7,673 shares of the stock were exchanged, compared to its average volume of 27,733. Rain Enhancement Technologies Holdco has a one year low of $1.26 and a one year high of $8.52. The firm’s 50 day moving average is $2.22 and its two-hundred day moving average is $3.36. The firm has a market capitalization of $16.91 million, a PE ratio of -1.65 and a beta of -0.27.
Rain Enhancement Technologies Holdco (NASDAQ:RAIN – Get Free Report) 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.
About Rain Enhancement Technologies Holdco
As of January 26, 2024, operates as a subsidiary of Pathos AI, Inc
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