Rain Enhancement Technologies Holdco (NASDAQ:RAIN) Trading Up 7.6% – Time to Buy?

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

Analyst Ratings Changes

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

Rain Enhancement Technologies Holdco Stock Performance

The stock has a market cap of $8.92 million, a PE ratio of -0.50 and a beta of -0.27. The firm has a 50-day moving average price of $1.27 and a 200-day moving average price of $1.98.

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

Insider Activity at Rain Enhancement Technologies Holdco

In other news, CEO Randy Seidl purchased 110,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average price of $0.95 per share, for a total transaction of $104,500.00. Following the completion of the acquisition, the chief executive officer directly owned 754,834 shares in the company, valued at $717,092.30. This represents a 17.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rain Enhancement Technologies Holdco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in Rain Enhancement Technologies Holdco by 38,985.0% during the 3rd quarter. Bank of America Corp DE now owns 7,817 shares of the company’s stock valued at $43,000 after purchasing an additional 7,797 shares during the last quarter. Quarry LP bought a new position in shares of Rain Enhancement Technologies Holdco during the fourth quarter valued at $88,000. Geode Capital Management LLC lifted its holdings in shares of 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. Finally, Knott David M Jr purchased a new stake in shares of Rain Enhancement Technologies Holdco during the first quarter valued at $258,000. 25.79% of the stock is owned by institutional investors.

Rain Enhancement Technologies Holdco Company Profile

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