Short Interest in Zeo Energy Corp. (NASDAQ:ZEO) Drops By 34.7%

Zeo Energy Corp. (NASDAQ:ZEO) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 138,100 shares, a drop of 34.7% from the September 15th total of 211,500 shares. Based on an average daily trading volume, of 214,000 shares, the short-interest ratio is presently 0.6 days. Currently, 1.7% of the company’s shares are sold short. Currently, 1.7% of the company’s shares are sold short. Based on an average daily trading volume, of 214,000 shares, the short-interest ratio is presently 0.6 days.

Insider Activity at Zeo Energy

In related news, COO Kalen Larsen sold 26,636 shares of Zeo Energy stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $1.61, for a total transaction of $42,883.96. Following the sale, the chief operating officer directly owned 2,411,637 shares in the company, valued at $3,882,735.57. This trade represents a 1.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brandon Bridgewater sold 26,636 shares of Zeo Energy stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $1.61, for a total transaction of $42,883.96. Following the sale, the insider owned 2,956,637 shares in the company, valued at approximately $4,760,185.57. This represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,726 shares of company stock worth $294,173. 56.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Zeo Energy stock. Geode Capital Management LLC raised its holdings in shares of Zeo Energy Corp. (NASDAQ:ZEO) by 98.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,670 shares of the company’s stock after purchasing an additional 86,047 shares during the quarter. Geode Capital Management LLC owned 0.35% of Zeo Energy worth $504,000 as of its most recent SEC filing.

Zeo Energy Stock Performance

Shares of NASDAQ ZEO opened at $1.90 on Friday. The company has a market capitalization of $104.18 million, a P/E ratio of -2.68 and a beta of -0.20. Zeo Energy has a 52-week low of $0.95 and a 52-week high of $3.95. The company’s 50 day moving average price is $1.52 and its 200-day moving average price is $2.00.

Zeo Energy (NASDAQ:ZEO) last released its earnings results on Wednesday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter. The company had revenue of $18.10 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Zeo Energy in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

About Zeo Energy

Zeo Energy Corp. provides residential solar energy systems, other energy efficient equipment, and related services in Florida, Texas, Arkansas, and Missouri, the United States. The company is involved in the selling and installing of residential solar energy systems that homeowners use electricity required to power their homes.