AltEnergy Acquisition (NASDAQ:AEAE) Stock Price Up 0.9% – Should You Buy?

AltEnergy Acquisition Corp. (NASDAQ:AEAE) shares shot up 0.9% during trading on Thursday . The stock traded as high as $11.30 and last traded at $11.25. 2,542 shares were traded during trading, a decline of 55% from the average session volume of 5,641 shares. The stock had previously closed at $11.15.

AltEnergy Acquisition Stock Performance

The business’s fifty day moving average price is $11.42 and its two-hundred day moving average price is $11.39.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AltEnergy Acquisition stock. Clear Street LLC boosted its position in AltEnergy Acquisition Corp. (NASDAQ:AEAE) by 58.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,853 shares of the company’s stock after buying an additional 5,853 shares during the quarter. Clear Street LLC owned approximately 0.24% of AltEnergy Acquisition worth $180,000 at the end of the most recent reporting period. 19.97% of the stock is currently owned by institutional investors.

AltEnergy Acquisition Company Profile

AltEnergy Acquisition Corp. does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. AltEnergy Acquisition Corp. was incorporated in 2021 and is based in New York, New York.