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

Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) saw a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 55,695 shares, a growth of 661.5% from the May 14th total of 7,314 shares. Currently, 1.3% of the company’s shares are short sold. Based on an average trading volume of 61,198 shares, the days-to-cover ratio is presently 0.9 days.

Rain Enhancement Technologies Holdco Price Performance

RAIN traded down $0.01 during midday trading on Wednesday, reaching $2.08. 6,365 shares of the company’s stock traded hands, compared to its average volume of 27,504. Rain Enhancement Technologies Holdco has a 52 week low of $1.26 and a 52 week high of $8.52. The firm has a fifty day moving average of $2.23 and a two-hundred day moving average of $3.38. The stock has a market capitalization of $17.04 million, a price-to-earnings ratio of -1.66 and a beta of -0.27.

Rain Enhancement Technologies Holdco (NASDAQ:RAIN) last posted its earnings results on Friday, May 15th. The company reported ($0.24) earnings per share (EPS) for the quarter. The firm had revenue of $0.01 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Knott David M Jr purchased a new stake in shares of Rain Enhancement Technologies Holdco in the 1st quarter worth about $258,000. Quarry LP bought a new position in Rain Enhancement Technologies Holdco in the fourth quarter worth about $88,000. Geode Capital Management LLC lifted its holdings 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 worth $127,000 after buying an additional 4,896 shares during the period. Clear Street Group Inc. purchased a new stake in Rain Enhancement Technologies Holdco in the third quarter worth about $53,000. Finally, Bank of America Corp DE boosted 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 valued at $43,000 after acquiring an additional 7,797 shares in the last quarter. 25.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

About Rain Enhancement Technologies Holdco

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