CDT Environmental Technology Investment Holdings Limited (NASDAQ:CDTG) Sees Significant Decline in Short Interest

CDT Environmental Technology Investment Holdings Limited (NASDAQ:CDTG) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 9,002 shares, a drop of 94.4% from the June 15th total of 161,487 shares. Based on an average daily volume of 156,611 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.8% of the shares of the company are sold short.

CDT Environmental Technology Investment Stock Down 23.0%

NASDAQ CDTG traded down $0.54 on Friday, hitting $1.81. 787,800 shares of the company’s stock were exchanged, compared to its average volume of 194,373. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The firm’s 50-day moving average price is $4.81 and its two-hundred day moving average price is $7.26. CDT Environmental Technology Investment has a fifty-two week low of $1.50 and a fifty-two week high of $53.25.

CDT Environmental Technology Investment (NASDAQ:CDTG) last posted its quarterly earnings results on Friday, May 15th. The company reported ($9.13) earnings per share for the quarter. The company had revenue of $5.45 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded CDT Environmental Technology Investment from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

CDT Environmental Technology Investment Company Profile

CDT Environmental Technology Investment Ltd, incorporated in the Cayman Islands, is a special purpose acquisition company (SPAC) listed on the Nasdaq Capital Market under the ticker symbol CDTG. The company was formed to raise capital through an initial public offering with the primary objective of identifying and combining with one or more businesses in the environmental technology sector.

Until it completes a business combination, CDT Environmental Technology Investment has no ongoing operations and holds the proceeds of its IPO in a trust account.