Alussa Energy Acquisition Corp. II (NYSE:ALUB) Sees Significant Increase in Short Interest

Alussa Energy Acquisition Corp. II (NYSE:ALUB) was the target of a large increase in short interest during the month of 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. Based on an average trading volume of 137,428 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Alussa Energy Acquisition Corp. II from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 13th. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has an average rating of “Sell”.

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. HBK Investments L P purchased a new stake in Alussa Energy Acquisition Corp. II (NYSE:ALUB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 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 at the end of the most recent reporting period.

Alussa Energy Acquisition Corp. II Stock Performance

Shares of ALUB traded up $0.01 during midday trading on Friday, reaching $10.18. 2,335 shares of the stock were exchanged, compared to its average volume of 81,255. Alussa Energy Acquisition Corp. II has a twelve month low of $9.90 and a twelve month high of $10.19. The firm has a 50-day simple moving average of $10.14.

Alussa Energy Acquisition Corp. II (NYSE:ALUB) last announced its earnings results on Friday, November 13th. The company reported $0.07 earnings per share (EPS) for the quarter.

About Alussa Energy Acquisition Corp. II

Alussa Energy Acquisition Corp. II was a special purpose acquisition company (SPAC) formed to pursue a merger, share exchange, asset acquisition or similar business combination. It did not operate as an energy producer or provide energy products and services itself. The company’s stated focus was on businesses in the energy sector, including areas related to the energy transition. Its role was to identify a target company and combine with it, rather than conduct day-to-day operations in a particular geography.