Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) Short Interest Down 45.1% in April

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) was the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totaling 6,671 shares, a decline of 45.1% from the April 15th total of 12,159 shares. Based on an average daily trading volume, of 9,382 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.2% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Rain Enhancement Technologies Holdco from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Rain Enhancement Technologies Holdco presently has an average rating of “Sell”.

Rain Enhancement Technologies Holdco Price Performance

Rain Enhancement Technologies Holdco stock traded up $0.01 during mid-day trading on Friday, hitting $1.74. 22,957 shares of the company were exchanged, compared to its average volume of 21,068. The business’s 50 day simple moving average is $2.50 and its two-hundred day simple moving average is $3.78. The company has a market capitalization of $14.25 million, a P/E ratio of -1.39 and a beta of -0.30. Rain Enhancement Technologies Holdco has a 12-month low of $1.26 and a 12-month high of $8.52.

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

Hedge Funds Weigh In On Rain Enhancement Technologies Holdco

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased 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 worth $127,000 after buying an additional 4,896 shares in the last quarter. Bank of America Corp DE increased its position 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 buying an additional 7,797 shares in the last quarter. Clear Street Group Inc. acquired a new stake in shares of Rain Enhancement Technologies Holdco during the third quarter worth $53,000. Quarry LP acquired a new stake in shares of Rain Enhancement Technologies Holdco during the fourth quarter worth $88,000. Finally, Harraden Circle Investments LLC acquired a new stake in shares of Rain Enhancement Technologies Holdco during the third quarter worth $332,000. Hedge funds and other 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