Rain Enhancement Technologies Holdco (NASDAQ:RAIN) Shares Up 10.6% – Should You Buy?

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) traded up 10.6% on Wednesday . The company traded as high as $1.82 and last traded at $1.77. 12,379 shares traded hands during trading, a decline of 65% from the average daily volume of 35,624 shares. The stock had previously closed at $1.60.

Wall Street Analysts Forecast Growth

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

Rain Enhancement Technologies Holdco Stock Performance

The stock’s 50 day moving average price is $2.01 and its 200-day moving average price is $2.49. The company has a market cap of $14.50 million, a PE ratio of -1.42 and a beta of -0.25.

Rain Enhancement Technologies Holdco (NASDAQ:RAIN) last issued its 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 Investors Weigh In On Rain Enhancement Technologies Holdco

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in Rain Enhancement Technologies Holdco by 38,985.0% during the 3rd 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. Geode Capital Management LLC lifted its position in 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 during the last quarter. Quarry LP bought a new stake in Rain Enhancement Technologies Holdco in the fourth quarter valued at approximately $88,000. Finally, Knott David M Jr purchased a new stake in shares of Rain Enhancement Technologies Holdco during the first quarter valued at approximately $258,000. 25.79% of the stock is currently owned by hedge funds and other institutional investors.

About Rain Enhancement Technologies Holdco

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