Energem Corp. (NASDAQ:ENCP – Get Rating) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 3,000 shares, a growth of 650.0% from the November 15th total of 400 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 23,100 shares, the days-to-cover ratio is presently 0.1 days.
Insiders Place Their Bets
In other Energem news, major shareholder Wolverine Asset Management Llc sold 127,000 shares of the company's stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $10.20, for a total transaction of $1,295,400.00. Following the transaction, the insider now directly owns 172,992 shares in the company, valued at $1,764,518.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 22.83% of the stock is currently owned by company insiders.
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Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. purchased a new stake in shares of Energem in the second quarter valued at about $103,000. Shaolin Capital Management LLC purchased a new stake in shares of Energem in the third quarter valued at about $152,000. Radcliffe Capital Management L.P. purchased a new stake in shares of Energem in the first quarter valued at about $250,000. Cohanzick Management LLC purchased a new stake in shares of Energem in the first quarter valued at about $499,000. Finally, Centiva Capital LP purchased a new stake in shares of Energem in the second quarter valued at about $509,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.
Energem Stock Performance
Shares of ENCP opened at $10.41 on Tuesday. The firm's 50-day moving average is $10.27 and its two-hundred day moving average is $10.15. Energem has a twelve month low of $9.87 and a twelve month high of $11.36.
About Energem
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Energem Corp. does not have significant operations. The company focuses on effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus a target business operating in the energy industry.
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