Alussa Energy Acquisition Corp. II (NYSE:ALUB) Shares Shorted: Short Interest Up 435.8% in October

Alussa Energy Acquisition Corp. II (NYSE:ALUB) was the target of a large growth in short interest in the month of October. As of October 30th, there was short interest totaling 25,829 shares, a growth of 435.8% from the October 15th total of 4,821 shares. Based on an average daily volume of 137,428 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Alussa Energy Acquisition Corp. II stock. HBK Investments L P acquired a new stake in Alussa Energy Acquisition Corp. II (NYSE:ALUB) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 666,668 shares of the company’s stock, valued at approximately $6,693,000. HBK Investments L P owned approximately 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 stock traded up $0.01 on Thursday, reaching $10.18. The stock had a trading volume of 551 shares, compared to its average volume of 111,937. Alussa Energy Acquisition Corp. II has a 12 month low of $9.90 and a 12 month high of $10.19. The stock’s 50-day moving average price is $10.14.

Analyst Ratings Changes

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

Alussa Energy Acquisition Corp. II Company Profile

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.