Rain Enhancement Technologies Holdco (NASDAQ:RAIN) Stock Price Down 4.3% – Time to Sell?

Shares of Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) traded down 4.3% on Wednesday . The stock traded as low as $1.90 and last traded at $1.98. Approximately 30,803 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 50,665 shares. The stock had previously closed at $2.07.

Wall Street Analysts Forecast Growth

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

Rain Enhancement Technologies Holdco Stock Performance

The company has a market cap of $16.22 million, a P/E ratio of -1.58 and a beta of -0.25. The firm has a 50 day moving average price of $2.08 and a 200-day moving average price of $3.02.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RAIN. Bank of America Corp DE grew its stake in shares of Rain Enhancement Technologies Holdco by 38,985.0% in the third quarter. Bank of America Corp DE now owns 7,817 shares of the company’s stock worth $43,000 after acquiring an additional 7,797 shares during the last quarter. Clear Street Group Inc. acquired a new position in Rain Enhancement Technologies Holdco during the 3rd quarter valued at $53,000. Quarry LP bought a new stake in Rain Enhancement Technologies Holdco in the 4th quarter valued at $88,000. Geode Capital Management LLC grew its position in Rain Enhancement Technologies Holdco by 29.2% in the 4th quarter. Geode Capital Management LLC now owns 21,682 shares of the company’s stock worth $127,000 after purchasing an additional 4,896 shares during the last quarter. Finally, Knott David M Jr acquired a new stake in Rain Enhancement Technologies Holdco in the 1st quarter worth $258,000. 25.79% of the stock is currently owned by institutional investors and hedge funds.

About Rain Enhancement Technologies Holdco

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