CN Energy Group. Inc. (NASDAQ:CNEY) Sees Significant Drop in Short Interest

CN Energy Group. Inc. (NASDAQ:CNEY) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 268,495 shares, a drop of 81.5% from the July 15th total of 1,453,768 shares. Based on an average daily trading volume, of 564,407 shares, the days-to-cover ratio is presently 0.5 days. Currently, 4.7% of the shares of the stock are short sold.

Institutional Trading of CN Energy Group.

An institutional investor recently bought a new stake in CN Energy Group. stock. Susquehanna International Group LLP acquired a new stake in CN Energy Group. Inc. (NASDAQ:CNEY) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 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. at the end of the most recent reporting period. Institutional investors and hedge funds own 7.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

CN Energy Group. Trading Down 0.1%

Shares of NASDAQ CNEY traded down $0.00 during mid-day trading on Friday, hitting $0.62. 5,713 shares of the stock traded hands, compared to its average volume of 1,967,649. CN Energy Group. has a twelve month low of $0.31 and a twelve month high of $2.95. The firm has a 50 day simple moving average of $0.64 and a two-hundred day simple moving average of $0.78.

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.