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

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

AltC Acquisition Stock Up 42.0 %

The firm has a fifty day simple moving average of $7.85 and a two-hundred day simple moving average of $9.58.

Institutional Trading of AltC Acquisition

Institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new position in shares of AltC Acquisition during the 1st quarter valued at about $163,000. Walleye Trading LLC raised its holdings in shares of AltC Acquisition by 6.7% during the 1st quarter. Walleye Trading LLC now owns 115,041 shares of the company’s stock valued at $1,314,000 after buying an additional 7,221 shares in the last quarter. SkyView Investment Advisors LLC purchased a new position in shares of AltC Acquisition during the 1st quarter valued at about $2,992,000. Herr Investment Group LLC purchased a new position in shares of AltC Acquisition during the 1st quarter valued at about $1,145,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of AltC Acquisition during the 1st quarter valued at about $6,754,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.