Rain Enhancement Technologies Holdco (NASDAQ:RAIN) Stock Price Down 9.3% – What’s Next?

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) fell 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 changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,550,468 shares. The stock had previously closed at $1.07.

Wall Street Analysts Forecast Growth

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

Rain Enhancement Technologies Holdco Stock Down 9.3%

The firm’s 50-day moving average price is $1.74 and its two-hundred day moving average price is $2.21. The firm has a market capitalization of $7.94 million, a PE ratio of -0.78 and a beta of -0.22.

Rain Enhancement Technologies Holdco (NASDAQ:RAIN) last posted 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 for the quarter.

Institutional Trading of Rain Enhancement Technologies Holdco

Several institutional investors have recently modified their holdings of RAIN. Bank of America Corp DE increased its holdings in shares of 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 buying an additional 7,797 shares in the last quarter. Quarry LP acquired a new stake in shares of Rain Enhancement Technologies Holdco in the fourth quarter valued at $88,000. Geode Capital Management LLC raised its holdings 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 buying an additional 4,896 shares during the last quarter. Finally, Knott David M Jr bought a new position in shares of Rain Enhancement Technologies Holdco in the first quarter valued at about $258,000. Institutional investors and hedge funds 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