CN Energy Group. Inc. (NASDAQ:CNEY) Shares Shorted: Short Interest Down 56.3% in October

CN Energy Group. Inc. (NASDAQ:CNEY) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 76,109 shares, a decrease of 56.3% from the September 30th total of 174,341 shares. Based on an average trading volume of 751,303 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.3% of the company’s stock are sold short.

CN Energy Group. Stock Performance

Shares of CN Energy Group. stock traded down $0.03 during midday trading on Friday, hitting $0.45. The company had a trading volume of 84,911 shares, compared to its average volume of 465,553. The company has a fifty day simple moving average of $0.53 and a 200 day simple moving average of $0.71. CN Energy Group. has a 12-month low of $0.31 and a 12-month high of $2.62.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CN Energy Group. in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On CN Energy Group.

An institutional investor recently bought a new stake in CN Energy Group. stock. Renaissance Technologies LLC acquired a new stake in shares of CN Energy Group. Inc. (NASDAQ:CNEY) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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 reporting period. Institutional investors own 7.64% of the company’s stock.

CN Energy Group. Company Profile

CN Energy Group Inc (NASDAQ:CNEY) is a China-based company focused primarily on the production and sale of wood-based activated carbon. Activated carbon is a porous material used to absorb impurities and is commonly applied in water purification, food and beverage processing, pharmaceutical manufacturing, and other industrial applications.

The company also develops and operates biomass-based cogeneration facilities. These facilities use biomass materials to generate electricity and heat, supporting the company’s broader focus on converting forest and agricultural resources into useful energy and industrial products.

CN Energy Group was incorporated in the Cayman Islands and conducts its principal operations through subsidiaries in China.