CDT Environmental Technology Investment Holdings Limited (NASDAQ:CDTG) Sees Significant Increase in Short Interest

CDT Environmental Technology Investment Holdings Limited (NASDAQ:CDTG) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 342,288 shares, an increase of 368.4% from the August 15th total of 73,076 shares. Based on an average daily trading volume, of 13,394,206 shares, the days-to-cover ratio is currently 0.0 days. Currently, 8.6% of the shares of the stock are sold short.

CDT Environmental Technology Investment Stock Up 8.5%

CDT Environmental Technology Investment stock traded up $0.11 during midday trading on Friday, reaching $1.41. The company’s stock had a trading volume of 4,898,951 shares, compared to its average volume of 12,986,542. CDT Environmental Technology Investment has a 52-week low of $0.73 and a 52-week high of $24.75. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $1.46 and its 200-day simple moving average is $5.01.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CDTG. Weiss Ratings cut CDT Environmental Technology Investment from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. Wall Street Zen cut CDT Environmental Technology Investment to a “strong sell” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

About CDT Environmental Technology Investment

CDT Environmental Technology Investment Ltd, incorporated in the Cayman Islands, is a special purpose acquisition company (SPAC) listed on the Nasdaq Capital Market under the ticker symbol CDTG. The company was formed to raise capital through an initial public offering with the primary objective of identifying and combining with one or more businesses in the environmental technology sector.

Until it completes a business combination, CDT Environmental Technology Investment has no ongoing operations and holds the proceeds of its IPO in a trust account.