AltC Acquisition (NYSE:ALCC) Sets New 52-Week High – Should You Buy?

AltC Acquisition Corp. (NYSE:ALCC)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $28.12 and last traded at $22.89, with a volume of 29446504 shares traded. The stock had previously closed at $24.84.

AltC Acquisition Price Performance

The firm’s 50-day simple moving average is $10.54 and its two-hundred day simple moving average is $10.16.

Hedge Funds Weigh In On AltC Acquisition

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

About AltC Acquisition

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.