Alussa Energy Acquisition Corp. II (NYSE:ALUB – Get Free Report) was the target of a significant increase in short interest in October. As of October 30th, there was short interest totaling 25,829 shares, an increase of 435.8% from the October 15th total of 4,821 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 137,428 shares, the days-to-cover ratio is presently 0.2 days.
Hedge Funds Weigh In On Alussa Energy Acquisition Corp. II
An institutional investor recently bought a new stake in Alussa Energy Acquisition Corp. II stock. HBK Investments L P acquired a new position in shares of Alussa Energy Acquisition Corp. II (NYSE:ALUB – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 666,668 shares of the company’s stock, valued at approximately $6,693,000. HBK Investments L P owned about 1.85% of Alussa Energy Acquisition Corp. II as of its most recent filing with the Securities and Exchange Commission (SEC).
Alussa Energy Acquisition Corp. II Price Performance
Shares of Alussa Energy Acquisition Corp. II stock traded up $0.01 on Wednesday, hitting $10.18. 322,886 shares of the company were exchanged, compared to its average volume of 81,659. The stock’s 50-day moving average is $10.14. Alussa Energy Acquisition Corp. II has a 1-year low of $9.90 and a 1-year high of $10.19.
Analysts Set New Price Targets
Separately, Weiss Ratings upgraded Alussa Energy Acquisition Corp. II from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.
Alussa Energy Acquisition Corp. II Company Profile
Alussa Energy Acquisition Corp. II is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Unlike a traditional operating business, the company does not manufacture products or provide commercial services of its own. The company’s stated investment focus is associated with the energy and energy-transition sectors. Its prospective transaction could involve a merger, acquisition, share exchange, or similar combination with a private company, although the specific target and operating activities depend on any completed transaction.
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