AltC Acquisition (NYSE:ALCC) Stock Price Up 42% – Should You Buy?

AltC Acquisition Corp. (NYSE:ALCC)’s stock price shot up 42% during trading on Wednesday . The company traded as high as $16.77 and last traded at $16.54. 53,576,338 shares traded hands during mid-day trading, an increase of 7,306% from the average session volume of 723,393 shares. The stock had previously closed at $11.65.

AltC Acquisition Stock Performance

The business’s 50 day simple moving average is $8.18 and its two-hundred day simple moving average is $9.65.

Institutional Trading of AltC Acquisition

Several large investors have recently added to or reduced their stakes in ALCC. Virtu Financial LLC purchased a new stake in AltC Acquisition in the first quarter worth about $163,000. Herr Investment Group LLC purchased a new position in AltC Acquisition during the first quarter valued at approximately $1,145,000. Walleye Trading LLC boosted its position in shares of AltC Acquisition by 6.7% in the first quarter. Walleye Trading LLC now owns 115,041 shares of the company’s stock worth $1,314,000 after purchasing an additional 7,221 shares during the period. SkyView Investment Advisors LLC purchased a new stake in shares of AltC Acquisition in the first quarter worth $2,992,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of AltC Acquisition during the 1st quarter valued at $6,754,000. 85.03% of the stock is currently owned by institutional investors.

AltC Acquisition Company Profile

AltC Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other business combination with one or more businesses. The company was formerly known as Churchill Capital Corp VIII and changed its name to AltC Acquisition Corp.