Sona Asset Management US LLC Takes $2.61 Million Position in CO2 Energy Transition Corp. $NOEM

Key Points

• Sona Asset Management US LLC acquired 252,019 shares of CO2 Energy Transition Corp. in the first quarter, worth approximately $2.61 million and representing a 2.63% stake.
• Several other institutional investors increased or initiated positions, including Toronto Dominion Bank, which raised its stake by 59.1%, and Clear Street Group, which nearly doubled its holdings.
• Analyst sentiment remains negative: Weiss Ratings reaffirmed a “sell” rating, while CO2 Energy Transition trades near the top of its 52-week range and recently reported quarterly earnings of $0.03 per share.

Sona Asset Management US LLC acquired a new stake in CO2 Energy Transition Corp. (NASDAQ:NOEM - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 252,019 shares of the company's stock, valued at approximately $2,613,000. Sona Asset Management US LLC owned 2.63% of CO2 Energy Transition as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Toronto Dominion Bank lifted its stake in CO2 Energy Transition by 59.1% in the fourth quarter. Toronto Dominion Bank now owns 511,082 shares of the company's stock valued at $5,259,000 after buying an additional 189,784 shares in the last quarter. 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 worth $218,000 after acquiring an additional 10,381 shares in the last quarter. L1 Global Manager Pty Ltd acquired a new stake in shares of CO2 Energy Transition during the fourth quarter worth $1,441,000. Wolverine Asset Management LLC raised its holdings in shares of CO2 Energy Transition by 30.9% during the fourth quarter. Wolverine Asset Management LLC now owns 72,779 shares of the company's stock worth $749,000 after acquiring an additional 17,196 shares during the period. Finally, Dakota Wealth Management lifted its position in CO2 Energy Transition by 11.7% in the 4th quarter. Dakota Wealth Management now owns 28,550 shares of the company's stock valued at $294,000 after acquiring an additional 3,000 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of CO2 Energy Transition in a research note on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of "Sell".

CO2 Energy Transition Stock Performance

NASDAQ NOEM opened at $10.86 on Monday. CO2 Energy Transition Corp. has a 52 week low of $10.08 and a 52 week high of $11.02. The stock's 50 day moving average price is $10.46 and its two-hundred day moving average price is $10.40. The stock has a market capitalization of $104.10 million, a price-to-earnings ratio of 67.85 and a beta of 0.02.

CO2 Energy Transition (NASDAQ:NOEM - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.03 earnings per share for the quarter.

CO2 Energy Transition Profile

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.

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