Tech and Energy Transition Co. (NASDAQ:TETC) Sees Large Drop in Short Interest

Tech and Energy Transition Co. (NASDAQ:TETC – Get Rating) saw a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 5,200 shares, a decline of 88.3% from the May 15th total of 44,400 shares. Based on an average daily volume of 91,200 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

Several hedge funds have recently bought and sold shares of TETC. Wolverine Asset Management LLC acquired a new position in Tech and Energy Transition during the fourth quarter worth $59,000. Centiva Capital LP acquired a new position in Tech and Energy Transition during the third quarter worth $98,000. Toroso Investments LLC acquired a new stake in shares of Tech and Energy Transition in the third quarter valued at about $101,000. Corbyn Investment Management Inc. MD acquired a new stake in shares of Tech and Energy Transition in the first quarter valued at about $117,000. Finally, OLD Mission Capital LLC acquired a new stake in shares of Tech and Energy Transition in the fourth quarter valued at about $161,000. Institutional investors and hedge funds own 75.72% of the company’s stock.

Shares of TETC stock traded down $0.02 during trading on Friday, hitting $9.79. 1,605,687 shares of the company were exchanged, compared to its average volume of 50,935. The business’s 50-day simple moving average is $9.78 and its 200 day simple moving average is $9.75. Tech and Energy Transition has a twelve month low of $9.60 and a twelve month high of $10.30.

About Tech and Energy Transition (Get Rating)

Tech and Energy Transition Corporation does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was formerly known as M Acquisition Company IV Corporation and changed its name to Tech and Energy Transition Corporation in December 2020.

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