ArcLight Clean Transition Corp. II (NASDAQ:ACTD) Sees Large Decrease in Short Interest

ArcLight Clean Transition Corp. II (NASDAQ:ACTDGet Rating) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 14,900 shares, a decrease of 28.0% from the March 15th total of 20,700 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 149,500 shares, the days-to-cover ratio is presently 0.1 days.

Institutional investors and hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC bought a new stake in ArcLight Clean Transition Corp. II during the 4th quarter worth about $28,000. D. E. Shaw & Co. Inc. grew its holdings in ArcLight Clean Transition Corp. II by 0.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 584,484 shares of the company’s stock worth $5,833,000 after acquiring an additional 3,700 shares during the last quarter. Cohanzick Management LLC bought a new stake in ArcLight Clean Transition Corp. II during the 3rd quarter worth about $76,000. PEAK6 Investments LLC grew its holdings in ArcLight Clean Transition Corp. II by 20.0% during the 3rd quarter. PEAK6 Investments LLC now owns 60,001 shares of the company’s stock worth $499,000 after acquiring an additional 10,002 shares during the last quarter. Finally, Omni Partners US LLC grew its holdings in ArcLight Clean Transition Corp. II by 4.4% during the 3rd quarter. Omni Partners US LLC now owns 254,725 shares of the company’s stock worth $2,486,000 after acquiring an additional 10,762 shares during the last quarter. 61.37% of the stock is currently owned by institutional investors and hedge funds.

ACTD opened at $9.98 on Friday. The firm’s 50-day simple moving average is $9.89 and its 200-day simple moving average is $9.87. ArcLight Clean Transition Corp. II has a twelve month low of $9.61 and a twelve month high of $10.32.

Separately, Stifel Nicolaus started coverage on shares of ArcLight Clean Transition Corp. II in a report on Monday, March 7th. They issued a “buy” rating and a $24.00 target price on the stock.

About ArcLight Clean Transition Corp. II (Get Rating)

ArcLight Clean Transition Corp. II intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities in energy and natural resources sectors. The company was incorporated in 2021 and is based in Boston, Massachusetts.

Recommended Stories

Receive News & Ratings for ArcLight Clean Transition Corp. II Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcLight Clean Transition Corp. II and related companies with MarketBeat.com's FREE daily email newsletter.