Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) Sees Large Decline in Short Interest

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 18,149 shares, a decline of 54.9% from the July 15th total of 40,209 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 13,418 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Bank of America Corp DE lifted its position 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 acquiring an additional 7,797 shares in the last quarter. Quarry LP bought a new position in shares of Rain Enhancement Technologies Holdco in the fourth quarter worth $88,000. Geode Capital Management LLC grew its position 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 purchasing an additional 4,896 shares in the last quarter. Finally, Knott David M Jr purchased a new position in shares of Rain Enhancement Technologies Holdco in the first quarter valued at $258,000. 25.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Rain Enhancement Technologies Holdco Price Performance

NASDAQ:RAIN traded down $0.05 on Friday, reaching $0.92. 232,287 shares of the company’s stock were exchanged, compared to its average volume of 1,566,613. The firm has a market cap of $7.53 million, a price-to-earnings ratio of -0.61 and a beta of -0.22. Rain Enhancement Technologies Holdco has a 52 week low of $0.89 and a 52 week high of $8.52. The stock has a fifty day simple moving average of $1.72 and a 200-day simple moving average of $2.20.

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

About Rain Enhancement Technologies Holdco

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