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

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

AltEnergy Acquisition Stock Performance

Shares of AEAE opened at $11.35 on Friday. The company’s fifty day moving average is $11.37 and its 200-day moving average is $11.16. AltEnergy Acquisition has a 12 month low of $10.35 and a 12 month high of $12.28.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AEAE. Warberg Asset Management LLC acquired a new position in shares of AltEnergy Acquisition during the 4th quarter worth $286,000. Robinson Capital Management LLC increased its stake in shares of AltEnergy Acquisition by 48.0% during the 4th quarter. Robinson Capital Management LLC now owns 53,959 shares of the company’s stock worth $588,000 after purchasing an additional 17,508 shares during the last quarter. Finally, Clear Street LLC bought a new stake in shares of AltEnergy Acquisition during the 4th quarter worth $179,000. Institutional investors and hedge funds own 19.97% of the company’s stock.

About AltEnergy Acquisition

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.