Rain Enhancement Technologies Holdco (NASDAQ:RAIN) Posts Quarterly Earnings Results

Rain Enhancement Technologies Holdco (NASDAQ:RAIN) posted its quarterly earnings data on Friday. The company reported ($0.40) EPS for the quarter, Zacks reports.

Rain Enhancement Technologies Holdco Price Performance

RAIN traded down $0.05 on Friday, reaching $0.92. 227,755 shares of the company traded hands, compared to its average volume of 230,338. Rain Enhancement Technologies Holdco has a 52-week low of $0.89 and a 52-week high of $8.52. The stock’s 50 day moving average price is $1.74 and its 200-day moving average price is $2.21. The company has a market cap of $7.53 million, a price-to-earnings ratio of -0.74 and a beta of -0.22.

Hedge Funds Weigh In On Rain Enhancement Technologies Holdco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RAIN. Bank of America Corp DE grew its position in 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 in the last quarter. Quarry LP bought a new position in shares of Rain Enhancement Technologies Holdco during the 4th quarter valued at $88,000. Finally, Geode Capital Management LLC raised its holdings in shares of Rain Enhancement Technologies Holdco by 29.2% during the 4th 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. Institutional investors own 25.79% of the company’s stock.

Wall Street Analyst Weigh In

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

About Rain Enhancement Technologies Holdco

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