CO2 Energy Transition Corp. (NASDAQ:NOEM) Stock Short Interest Declines 42.2%

CO2 Energy Transition Corp. (NASDAQ:NOEM) saw a large decline in short interest in 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. Approximately 0.0% of the company’s shares are short sold. Based on an average trading volume of 68 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Trading of CO2 Energy Transition

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

Analyst Ratings Changes

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 equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, CO2 Energy Transition has a consensus rating of “Sell”.

CO2 Energy Transition Price Performance

Shares of NOEM traded up $0.01 during midday trading on Thursday, hitting $10.59. 235 shares of the company traded hands, compared to its average volume of 7,324. CO2 Energy Transition has a one year low of $10.16 and a one year high of $12.62. The firm has a market cap of $39.39 million, a P/E ratio of 70.60 and a beta of -0.11. The stock has a 50-day moving average of $10.85 and a 200-day moving average of $10.57.

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

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.