Short Interest in Alternus Clean Energy Inc (NASDAQ:ALCE) Drops By 47.5%

Alternus Clean Energy Inc (NASDAQ:ALCE) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 151,200 shares, a decrease of 47.5% from the August 31st total of 287,900 shares. Based on an average daily trading volume, of 176,600 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.3% of the shares of the company are short sold.

Alternus Clean Energy Price Performance

Shares of NASDAQ ALCE traded down $0.00 during midday trading on Friday, reaching $0.16. 26,630 shares of the stock were exchanged, compared to its average volume of 332,615. The firm has a 50-day simple moving average of $0.23 and a two-hundred day simple moving average of $0.33. Alternus Clean Energy has a twelve month low of $0.15 and a twelve month high of $10.89.

Alternus Clean Energy (NASDAQ:ALCE) last released its quarterly earnings results on Monday, August 26th. The company reported ($0.10) EPS for the quarter. The company had revenue of $3.85 million for the quarter.

Institutional Investors Weigh In On Alternus Clean Energy

A hedge fund recently bought a new stake in Alternus Clean Energy stock. Bracebridge Capital LLC acquired a new position in shares of Alternus Clean Energy Inc (NASDAQ:ALCE) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 60,000 shares of the company’s stock, valued at approximately $90,000. Alternus Clean Energy accounts for 0.0% of Bracebridge Capital LLC’s portfolio, making the stock its 11th largest position. Bracebridge Capital LLC owned about 0.36% of Alternus Clean Energy at the end of the most recent quarter.

Alternus Clean Energy Company Profile

Alternus Energy Group Plc operates as an international vertically integrated independent power producer. It owns, develops, installs, and operates midsized utility scale solar parks. The company was incorporated in 2019 and is headquartered in Dublin, Ireland.