Energem Corp. (NASDAQ:ENCPW – Get Rating) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 33,400 shares, a drop of 9.5% from the August 15th total of 36,900 shares. Based on an average daily volume of 23,700 shares, the short-interest ratio is presently 1.4 days.
Energem Stock Down 9.1 %
Energem stock opened at $0.10 on Monday. Energem has a 1-year low of $0.05 and a 1-year high of $0.35. The company has a fifty day simple moving average of $0.08.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. bought a new position in shares of Energem in the 1st quarter valued at about $45,000. Clear Street LLC grew its position in shares of Energem by 517.6% in the 2nd quarter. Clear Street LLC now owns 339,192 shares of the company’s stock valued at $29,000 after acquiring an additional 284,273 shares during the period. MMCAP International Inc. SPC bought a new position in shares of Energem in the 1st quarter valued at about $59,000. Ramius Advisors LLC bought a new position in shares of Energem in the 2nd quarter valued at about $31,000. Finally, Saba Capital Management L.P. acquired a new stake in shares of Energem during the 1st quarter worth about $75,000.
Energem Company Profile
Energem Corp. focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus on businesses in the energy industry. The company was incorporated in 2021 and is based in Kuala Lumpur, Malaysia.
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