Alussa Energy Acquisition Corp. II (NYSE:ALUB) Stock Short Interest Report for October

Key Points

• Short interest surged 186.8% in October to 4,821 shares, though that represented 0.0% of shares outstanding and just 0.2 days to cover.
• ALUB shares traded at $10.15, near their 12-month range of $9.90 to $10.18, while trading volume was well below average.
• BlueCrest Capital Management acquired approximately 825,000 shares worth $8.3 million, but analyst sentiment remained negative, with a consensus “Sell” rating.

Alussa Energy Acquisition Corp. II (NYSE:ALUB - Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 4,821 shares, a growth of 186.8% from the September 30th total of 1,681 shares. Based on an average daily volume of 19,697 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the company's shares are short sold.

Alussa Energy Acquisition Corp. II Stock Performance

Alussa Energy Acquisition Corp. II stock traded up $0.01 during trading hours on Thursday, hitting $10.15. The stock had a trading volume of 816 shares, compared to its average volume of 81,930. Alussa Energy Acquisition Corp. II has a 12-month low of $9.90 and a 12-month high of $10.18. The stock has a 50-day simple moving average of $10.13.

Hedge Funds Weigh In On Alussa Energy Acquisition Corp. II

A hedge fund recently bought a new stake in Alussa Energy Acquisition Corp. II stock. BlueCrest Capital Management Ltd bought a new position in Alussa Energy Acquisition Corp. II (NYSE:ALUB - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 825,000 shares of the company's stock, valued at approximately $8,283,000. BlueCrest Capital Management Ltd owned about 2.30% of Alussa Energy Acquisition Corp. II as of its most recent filing with the Securities and Exchange Commission (SEC).

Wall Street Analysts Forecast Growth

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 research analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently 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.

Until a business combination is completed, Alussa Energy Acquisition Corp.

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