AltEnergy Acquisition Corp. (NASDAQ:AEAE – Get Rating) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 16,700 shares, a growth of 51.8% from the October 15th total of 11,000 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 50,300 shares, the short-interest ratio is presently 0.3 days.
AltEnergy Acquisition Price Performance
Shares of AEAE traded up $0.01 during mid-day trading on Monday, hitting $10.06. 900 shares of the company's stock were exchanged, compared to its average volume of 75,819. AltEnergy Acquisition has a fifty-two week low of $3.85 and a fifty-two week high of $10.78. The business's 50 day moving average is $10.01 and its two-hundred day moving average is $9.97.
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Institutional Investors Weigh In On AltEnergy Acquisition
Several hedge funds have recently made changes to their positions in the business. Basso Capital Management L.P. boosted its stake in shares of AltEnergy Acquisition by 1.1% during the first quarter. Basso Capital Management L.P. now owns 252,667 shares of the company's stock worth $2,514,000 after buying an additional 2,767 shares during the period. CI Investments Inc. acquired a new stake in AltEnergy Acquisition in the first quarter valued at about $37,000. Wolverine Asset Management LLC lifted its position in AltEnergy Acquisition by 63.0% in the third quarter. Wolverine Asset Management LLC now owns 16,958 shares of the company's stock valued at $170,000 after purchasing an additional 6,556 shares during the period. Elequin Capital LP lifted its position in AltEnergy Acquisition by 14.4% in the third quarter. Elequin Capital LP now owns 57,180 shares of the company's stock valued at $574,000 after purchasing an additional 7,180 shares during the period. Finally, Timelo Investment Management Inc. acquired a new stake in AltEnergy Acquisition in the first quarter valued at about $100,000. Institutional investors and hedge funds own 60.25% of the company's stock.
About AltEnergy Acquisition
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AltEnergy Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar transaction with one or more businesses. It intends to acquire and operate businesses in the renewable energy or related clean technology sectors.
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