CO2 Energy Transition (NASDAQ:NOEM) Shares Break Below 200 Day Moving Average – Time to Sell?

CO2 Energy Transition Corp. (NASDAQ:NOEM) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $10.53 and traded as low as $10.51. CO2 Energy Transition shares last traded at $10.5150, with a volume of 13,114 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of CO2 Energy Transition from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, CO2 Energy Transition presently has an average rating of “Sell”.

CO2 Energy Transition Price Performance

The company has a market capitalization of $39.08 million, a price-to-earnings ratio of 70.10 and a beta of -0.10. The stock has a 50-day moving average price of $10.64 and a 200-day moving average price of $10.53.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new position in CO2 Energy Transition stock. Sona Asset Management US LLC acquired a new position in shares of CO2 Energy Transition Corp. (NASDAQ:NOEM) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 252,019 shares of the company’s stock, valued at approximately $2,613,000. Sona Asset Management US LLC owned about 2.63% of CO2 Energy Transition as of its most recent SEC filing.

CO2 Energy Transition Company Profile

CO2 Energy Transition Corp. (NASDAQ: NOEM) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with a company involved in the energy transition. Rather than operating an established commercial business, the company was created to pursue a merger, share exchange, asset acquisition, or similar transaction.

Its stated focus is on businesses supporting decarbonization and the transition toward lower-carbon energy systems. Potential areas of interest may include renewable energy, clean fuels, energy efficiency, electrification, carbon reduction technologies, and related infrastructure, although the company’s specific target and operating activities depend on any transaction it completes.

CO2 Energy Transition Corp.