CO2 Energy Transition (NASDAQ:NOEM) Stock Falls 0.3% – Here’s What Happened

CO2 Energy Transition Corp. (NASDAQ:NOEM)’s stock price dropped 0.3% on Wednesday. The stock traded as low as $10.53 and last traded at $10.5550. 814 shares were traded during mid-day trading, an increase of 235% from the average session volume of 243 shares. The stock had previously closed at $10.59.

Analysts Set New Price Targets

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

CO2 Energy Transition Stock Down 0.6%

The stock has a market capitalization of $39.31 million, a price-to-earnings ratio of 70.44 and a beta of -0.10. The business has a 50-day simple moving average of $10.66 and a two-hundred day simple moving average of $10.59.

CO2 Energy Transition (NASDAQ:NOEM) last issued 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 hedge fund recently bought a new stake in CO2 Energy Transition stock. Sona Asset Management US LLC acquired a new position in CO2 Energy Transition Corp. (NASDAQ:NOEM) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 252,019 shares of the company’s stock, valued at approximately $2,613,000. Sona Asset Management US LLC owned approximately 2.63% of CO2 Energy Transition at the end of the most recent quarter.

About CO2 Energy Transition

CO2 Energy Transition Corp. is a special purpose acquisition company (SPAC) focused on identifying and completing a business combination with a company operating in the energy transition sector. Its stated areas of interest include technologies and businesses that support decarbonization, renewable energy, carbon reduction, and the broader transition toward lower-emission energy systems.

Unlike an operating energy company, CO2 Energy Transition Corp. does not appear to manufacture products or provide commercial energy services of its own.