Rain Enhancement Technologies Holdco (NASDAQ:RAIN) Trading Down 9.3% – Should You Sell?

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

Analyst Ratings Changes

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, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Rain Enhancement Technologies Holdco Stock Down 9.3%

The stock has a fifty day moving average of $1.74 and a 200-day moving average of $2.21. The firm has a market capitalization of $7.94 million, a P/E ratio of -0.78 and a beta of -0.22.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RAIN. Knott David M Jr bought a new position in Rain Enhancement Technologies Holdco in the first quarter valued at approximately $258,000. Geode Capital Management LLC raised 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 purchasing an additional 4,896 shares in the last quarter. Quarry LP bought a new stake in Rain Enhancement Technologies Holdco during the fourth quarter worth $88,000. Finally, 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. 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