Rain Enhancement Technologies Holdco (NASDAQ:RAIN) Posts Earnings Results

Rain Enhancement Technologies Holdco (NASDAQ:RAIN) released its quarterly earnings results on Friday. The company reported ($0.40) earnings per share for the quarter, Zacks reports.

Rain Enhancement Technologies Holdco Price Performance

Rain Enhancement Technologies Holdco stock traded down $0.05 during mid-day trading on Friday, hitting $0.92. The company’s stock had a trading volume of 232,287 shares, compared to its average volume of 1,566,613. The business has a 50 day moving average price of $1.72 and a 200-day moving average price of $2.20. Rain Enhancement Technologies Holdco has a 12 month low of $0.89 and a 12 month high of $8.52. The stock has a market cap of $7.53 million, a price-to-earnings ratio of -0.74 and a beta of -0.22.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Rain Enhancement Technologies Holdco from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Investors Weigh In On Rain Enhancement Technologies Holdco

A number of hedge funds and other institutional investors have recently modified their holdings of RAIN. Bank of America Corp DE increased its stake in Rain Enhancement Technologies Holdco by 38,985.0% in the 3rd 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 period. Quarry LP bought a new position in shares of Rain Enhancement Technologies Holdco in the fourth quarter worth approximately $88,000. Finally, Geode Capital Management LLC increased its stake 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 during the period. Institutional investors own 25.79% of the company’s stock.

About Rain Enhancement Technologies Holdco

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