CO2 Energy Transition Corp. (NASDAQ:NOEM) Sees Large Decline in Short Interest

CO2 Energy Transition Corp. (NASDAQ:NOEM) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 63 shares, a decline of 42.2% from the August 31st total of 109 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 68 shares, the short-interest ratio is currently 0.9 days.

CO2 Energy Transition Stock Performance

Shares of NASDAQ NOEM remained flat at $10.59 during mid-day trading on Friday. The stock had a trading volume of 235 shares, compared to its average volume of 58. The company’s fifty day moving average is $10.84 and its two-hundred day moving average is $10.58. CO2 Energy Transition has a fifty-two week low of $10.16 and a fifty-two week high of $12.62. The stock has a market cap of $39.39 million, a PE ratio of 70.60 and a beta of -0.10.

CO2 Energy Transition (NASDAQ:NOEM) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.03 EPS for the quarter.

Institutional Investors Weigh In On CO2 Energy Transition

A number of hedge funds have recently bought and sold shares of NOEM. Sona Asset Management US LLC acquired a new position in shares of CO2 Energy Transition during the first quarter valued at about $2,613,000. L1 Global Manager Pty Ltd acquired a new stake in shares of CO2 Energy Transition during the 4th quarter worth approximately $1,441,000. Finally, Clear Street Group Inc. increased its position in shares of CO2 Energy Transition by 96.5% during the fourth quarter. Clear Street Group Inc. now owns 21,139 shares of the company’s stock valued at $218,000 after purchasing an additional 10,381 shares during the period.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered CO2 Energy Transition from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, CO2 Energy Transition has an average rating of “Sell”.

CO2 Energy Transition Company Profile

CO2 Energy Transition Corp. is a special purpose acquisition company (SPAC) formed to identify and acquire, merge with, or otherwise combine with a business operating in the energy transition sector.

The company does not appear to operate as a traditional commercial enterprise with its own products or services. Instead, its stated focus is on pursuing a business combination with a company involved in areas related to decarbonization, clean energy, or other technologies supporting the transition to lower-carbon energy systems.

As a publicly traded acquisition vehicle, CO2 Energy Transition Corp.’s activities are primarily centered on evaluating potential targets and completing a qualifying transaction.