CO2 Energy Transition (NASDAQ:NOEM) Trading Down 0.1% - Here's What Happened

Key Points

• NOEM traded down 0.1% to $10.4020 in mid-day trading, with volume surging to about 77,970 shares — a 3,024% increase over its average daily volume.
• Analyst sentiment is negative: Weiss Ratings reaffirmed a "sell (d-)" rating and MarketBeat shows a consensus rating of "Sell" for the stock.
• CO2 Energy Transition is a special purpose acquisition company (SPAC) focused on climate-tech and energy-transition targets, with a market cap near $99.8 million, a P/E of 80.02, and no announced business combination to date.

CO2 Energy Transition Corp. (NASDAQ:NOEM - Get Free Report) dropped 0.1% during mid-day trading on Friday . The company traded as low as $10.40 and last traded at $10.4020. Approximately 77,970 shares traded hands during mid-day trading, an increase of 3,024% from the average daily volume of 2,496 shares. The stock had previously closed at $10.41.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CO2 Energy Transition in a report on Friday, January 9th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of "Sell".

CO2 Energy Transition Price Performance

The company's 50-day moving average is $10.38 and its 200-day moving average is $10.32. The firm has a market capitalization of $99.76 million, a price-to-earnings ratio of 80.02 and a beta of 0.02.

CO2 Energy Transition (NASDAQ:NOEM - Get Free Report) last announced its quarterly earnings results on Friday, March 13th. The company reported $0.04 earnings per share for the quarter.

Hedge Funds Weigh In On CO2 Energy Transition

A number of institutional investors and hedge funds have recently bought and sold shares of NOEM. Flow Traders U.S. LLC lifted its holdings in CO2 Energy Transition by 11.9% in the 3rd quarter. Flow Traders U.S. LLC now owns 14,829 shares of the company's stock valued at $151,000 after acquiring an additional 1,578 shares during the last quarter. Dakota Wealth Management lifted its stake in CO2 Energy Transition by 11.7% during the fourth quarter. Dakota Wealth Management now owns 28,550 shares of the company's stock valued at $294,000 after buying an additional 3,000 shares in the last quarter. Clear Street Group Inc. lifted its stake in 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 buying an additional 10,381 shares in the last quarter. Wolverine Asset Management LLC lifted its stake in CO2 Energy Transition by 30.9% during the fourth quarter. Wolverine Asset Management LLC now owns 72,779 shares of the company's stock valued at $749,000 after buying an additional 17,196 shares in the last quarter. Finally, Radcliffe Capital Management L.P. acquired a new position in shares of CO2 Energy Transition in the 3rd quarter valued at about $308,000.

About CO2 Energy Transition

CO2 Energy Transition, Inc is a special purpose acquisition company organized under the laws of the State of Delaware. Listed on the NASDAQ under the ticker symbol NOEM, the company's mission is to identify, acquire, and merge with one or more businesses operating in the climate technology and energy transition sectors. By targeting companies at the forefront of decarbonization, CO2 Energy Transition seeks to position itself as a strategic partner in the development and commercialization of solutions that reduce greenhouse gas emissions.

Although the company has not yet announced a definitive business combination, its investment mandate encompasses a broad range of activities within the clean energy ecosystem.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.