AltEnergy Acquisition Corp. (NASDAQ:AEAE) Sees Large Decline in Short Interest

AltEnergy Acquisition Corp. (NASDAQ:AEAE) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 2,200 shares, a decline of 40.5% from the May 31st total of 3,700 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 4,500 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of AltEnergy Acquisition

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clear Street LLC purchased a new stake in AltEnergy Acquisition in the fourth quarter valued at approximately $179,000. Robinson Capital Management LLC raised its position in AltEnergy Acquisition by 48.0% in the fourth quarter. Robinson Capital Management LLC now owns 53,959 shares of the company’s stock valued at $588,000 after purchasing an additional 17,508 shares during the period. Finally, Warberg Asset Management LLC purchased a new stake in AltEnergy Acquisition in the fourth quarter valued at approximately $286,000. Hedge funds and other institutional investors own 19.97% of the company’s stock.

AltEnergy Acquisition Price Performance

Shares of NASDAQ AEAE opened at $11.35 on Friday. AltEnergy Acquisition has a 52-week low of $10.35 and a 52-week high of $12.28. The business’s 50 day moving average is $11.37 and its two-hundred day moving average is $11.16.

AltEnergy Acquisition Company Profile

AltEnergy Acquisition Corp. does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. AltEnergy Acquisition Corp. was incorporated in 2021 and is based in New York, New York.