Key Points
- CEO Randy Seidl purchased 110,000 shares of Rain Enhancement Technologies Holdco at an average price of $0.95, investing $104,500 and increasing his direct stake by 17.06% to 754,834 shares.
- RAIN shares opened at $0.88, near their 12-month low of $0.81 and well below the 50-day and 200-day moving averages of $1.62 and $2.14, respectively. The company reported a quarterly loss of $0.40 per share.
- Analyst sentiment remains negative: Weiss Ratings reaffirmed a “sell (e+)” rating, and MarketBeat reports a consensus “Sell” rating. Institutional investors own 25.79% of the company.
Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN - Get Free Report) CEO Randy Seidl bought 110,000 shares of Rain Enhancement Technologies Holdco stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average cost of $0.95 per share, for a total transaction of $104,500.00. Following the completion of the acquisition, the chief executive officer directly owned 754,834 shares of the company's stock, valued at approximately $717,092.30. The trade was a 17.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Rain Enhancement Technologies Holdco Trading Down 3.0%
NASDAQ:RAIN opened at $0.88 on Friday. The business's 50-day moving average is $1.62 and its 200 day moving average is $2.14. Rain Enhancement Technologies Holdco, Inc. has a 12 month low of $0.81 and a 12 month high of $8.52. The company has a market capitalization of $7.21 million, a P/E ratio of -0.58 and a beta of -0.22.
Rain Enhancement Technologies Holdco (NASDAQ:RAIN - Get Free Report) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.40) earnings per share for the quarter.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Rain Enhancement Technologies Holdco in a report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Rain Enhancement Technologies Holdco currently has a consensus rating of "Sell".
Read Our Latest Stock Analysis on RAIN
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in RAIN. Knott David M Jr purchased a new position in Rain Enhancement Technologies Holdco in the first quarter worth about $258,000. Quarry LP bought a new stake in Rain Enhancement Technologies Holdco during the fourth quarter worth approximately $88,000. Bank of America Corp DE raised its position in Rain Enhancement Technologies Holdco by 38,985.0% during 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 period. Finally, Geode Capital Management LLC raised 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 during the period. Institutional investors own 25.79% of the company's stock.
Rain Enhancement Technologies Holdco Company Profile
(
Get Free Report)
As of January 26, 2024, operates as a subsidiary of Pathos AI, Inc
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