CN Energy Group. Inc. (NASDAQ:CNEY) Sees Large Decline in Short Interest

CN Energy Group. Inc. (NASDAQ:CNEY) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 143,955 shares, a drop of 42.2% from the August 15th total of 249,166 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average daily volume of 67,971 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Investors Weigh In On CN Energy Group.

An institutional investor recently bought a new stake in CN Energy Group. stock. Renaissance Technologies LLC purchased a new stake in shares of CN Energy Group. Inc. (NASDAQ:CNEY) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 74,391 shares of the company’s stock, valued at approximately $30,000. Renaissance Technologies LLC owned about 1.32% of CN Energy Group. at the end of the most recent quarter. 7.64% of the stock is currently owned by hedge funds and other institutional investors.

CN Energy Group. Stock Performance

NASDAQ CNEY traded down $0.01 on Wednesday, reaching $0.53. The company had a trading volume of 174,547 shares, compared to its average volume of 1,731,787. CN Energy Group. has a 12 month low of $0.31 and a 12 month high of $2.95. The firm’s 50 day moving average price is $0.60 and its 200 day moving average price is $0.72.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of CN Energy Group. in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

CN Energy Group. Company Profile

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.