Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) Short Interest Update

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 112,240 shares, a growth of 367.1% from the August 15th total of 24,030 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily volume of 354,125 shares, the short-interest ratio is presently 0.3 days.

Insider Activity

In other Rain Enhancement Technologies Holdco news, CEO Randy Seidl acquired 110,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was 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 owned 754,834 shares of the company’s stock, valued at approximately $717,092.30. This trade represents a 17.06% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On Rain Enhancement Technologies Holdco

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew 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 worth $127,000 after purchasing an additional 4,896 shares during the last quarter. Bank of America Corp DE increased 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 purchasing an additional 7,797 shares in the last quarter. Quarry LP purchased a new stake in shares of Rain Enhancement Technologies Holdco in the 4th quarter valued at about $88,000. Finally, Knott David M Jr acquired a new stake in shares of Rain Enhancement Technologies Holdco in the 1st quarter valued at about $258,000. 25.79% of the stock is owned by institutional investors and hedge funds.

Rain Enhancement Technologies Holdco Stock Performance

Shares of NASDAQ:RAIN traded down $0.01 during trading hours on Friday, reaching $0.76. The stock had a trading volume of 79,482 shares, compared to its average volume of 243,123. Rain Enhancement Technologies Holdco has a 1 year low of $0.70 and a 1 year high of $8.52. The firm’s 50 day moving average is $1.27 and its 200-day moving average is $1.98. The stock has a market capitalization of $8.83 million, a price-to-earnings ratio of -0.50 and a beta of -0.27.

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

Analyst Upgrades and Downgrades

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

About Rain Enhancement Technologies Holdco

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