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

Rain Enhancement Technologies Holdco (NASDAQ:RAIN) released its quarterly earnings results on Friday. The company reported ($0.24) EPS for the quarter, FiscalAI reports. The company had revenue of $0.01 million during the quarter.

Rain Enhancement Technologies Holdco Stock Up 0.6%

RAIN stock opened at $1.74 on Friday. Rain Enhancement Technologies Holdco has a 52-week low of $1.26 and a 52-week high of $8.52. The stock’s 50 day moving average is $2.50 and its two-hundred day moving average is $3.78. The company has a market capitalization of $14.25 million, a PE ratio of -1.39 and a beta of -0.30.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Rain Enhancement Technologies Holdco from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On Rain Enhancement Technologies Holdco

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harraden Circle Investments LLC bought a new stake in shares of Rain Enhancement Technologies Holdco in the 3rd quarter valued at approximately $332,000. Bank of America Corp DE increased its holdings in shares of Rain Enhancement Technologies Holdco by 38,985.0% in 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 during the last quarter. Clear Street Group Inc. bought a new stake in shares of Rain Enhancement Technologies Holdco in the 3rd quarter valued at approximately $53,000. Geode Capital Management LLC increased its holdings in shares of Rain Enhancement Technologies Holdco by 29.2% in the 4th quarter. Geode Capital Management LLC now owns 21,682 shares of the company’s stock valued at $127,000 after acquiring an additional 4,896 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Rain Enhancement Technologies Holdco in the 4th quarter valued at approximately $88,000. 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