Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) Short Interest Down 54.9% in July

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

Institutional Investors Weigh In On Rain Enhancement Technologies Holdco

Several hedge funds have recently made changes to their positions in RAIN. Geode Capital Management LLC boosted its position in 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 valued at $127,000 after purchasing an additional 4,896 shares in the last quarter. Bank of America Corp DE grew its stake 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 valued at $43,000 after purchasing an additional 7,797 shares during the last quarter. Quarry LP bought a new position in Rain Enhancement Technologies Holdco in the fourth quarter worth about $88,000. Finally, Knott David M Jr purchased a new stake in shares of Rain Enhancement Technologies Holdco during the first quarter valued at about $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 shares of 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.com, Rain Enhancement Technologies Holdco presently has an average rating of “Sell”.

Rain Enhancement Technologies Holdco Price Performance

Shares of NASDAQ:RAIN traded down $0.05 during trading on Monday, reaching $0.87. 174,588 shares of the company were exchanged, compared to its average volume of 230,111. The firm has a market capitalization of $7.11 million, a PE ratio of -0.57 and a beta of -0.22. The business’s fifty day simple moving average is $1.72 and its 200-day simple moving average is $2.20. Rain Enhancement Technologies Holdco has a 12-month low of $0.86 and a 12-month high of $8.52.

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

About Rain Enhancement Technologies Holdco

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