Key Points
- CEO Randy Seidl bought 30,000 shares of Rain Enhancement Technologies Holdco at an average price of $2.53, a purchase worth $75,900. After the transaction, he owned 640,834 shares, boosting his stake by 4.91%.
- The stock was trading at $2.38 on Friday, below its 200-day moving average of $3.64 and near its 50-day average of $2.42. Rain has a market cap of $19.49 million and a 1-year range of $1.26 to $8.52.
- The company recently reported a Q1 loss of $0.24 per share on just $0.01 million in revenue, and analyst sentiment remains weak. Weiss Ratings recently downgraded the stock, and MarketBeat shows an average analyst rating of “Sell.”
Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN - Get Free Report) CEO Randy Seidl bought 4,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average price of $2.58 per share, for a total transaction of $10,320.00. Following the transaction, the chief executive officer owned 644,834 shares of the company's stock, valued at $1,663,671.72. The trade was a 0.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
Rain Enhancement Technologies Holdco Stock Down 2.9%
Shares of NASDAQ RAIN opened at $2.38 on Friday. The business's 50 day moving average price is $2.42 and its 200 day moving average price is $3.64. The firm has a market cap of $19.49 million, a P/E ratio of -1.90 and a beta of -0.30. Rain Enhancement Technologies Holdco, Inc. has a 52 week low of $1.26 and a 52 week high of $8.52.
Rain Enhancement Technologies Holdco (NASDAQ:RAIN - Get Free Report) 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 during the quarter.
Institutional Investors Weigh In On Rain Enhancement Technologies Holdco
Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in 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 worth $127,000 after purchasing an additional 4,896 shares in the last quarter. Bank of America Corp DE boosted its position in 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 worth $43,000 after purchasing an additional 7,797 shares in the last quarter. Clear Street Group Inc. purchased a new stake in Rain Enhancement Technologies Holdco in the 3rd quarter worth approximately $53,000. Quarry LP purchased a new stake in Rain Enhancement Technologies Holdco in the 4th quarter worth approximately $88,000. Finally, Harraden Circle Investments LLC purchased a new stake in Rain Enhancement Technologies Holdco in the 3rd quarter worth approximately $332,000. Hedge funds and other institutional investors own 25.79% of the company's stock.
Analyst Ratings Changes
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 investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Rain Enhancement Technologies Holdco has a consensus rating of "Sell".
View Our Latest Stock Analysis on Rain Enhancement Technologies Holdco
About Rain Enhancement Technologies Holdco
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