CN Energy Group. (NASDAQ:CNEY) Trading Down 4.5% – Here’s What Happened

Shares of CN Energy Group. Inc. (NASDAQ:CNEY) dropped 4.5% during mid-day trading on Monday . The company traded as low as $0.3560 and last traded at $0.3849. Approximately 275,382 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 981,691 shares. The stock had previously closed at $0.4030.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CN Energy Group. in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

CN Energy Group. Price Performance

The stock’s 50-day simple moving average is $0.82 and its 200-day simple moving average is $1.18.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in CN Energy Group. stock. Susquehanna International Group LLP bought a new stake in CN Energy Group. Inc. (NASDAQ:CNEY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,903 shares of the company’s stock, valued at approximately $28,000. Susquehanna International Group LLP owned about 0.40% of CN Energy Group. as of its most recent SEC filing. 7.64% of the stock is owned by institutional investors.

About CN Energy Group.

CN Energy Group. Inc, through its subsidiaries, engages in the manufacture and supply of wood-based activated carbon primarily in China. The company’s activated carbon is used in pharmaceutical manufacturing, industrial manufacturing, water purification, environmental protection, and food and beverage production. It also engages in the generation and supply of biomass electricity; production of steam for heating; sale of minerals, stone, metal materials, construction materials, wood, chemical materials and products, rubber products, and paper products; management and conversion of forest and natural ecosystem; and forest acquisition, rights transfer, and nurturing, and timber harvesting and processing activities.