Activate Energy Acquisition Corp. (NASDAQ:AEAQ) Stock Short Interest Drops 40.3%

Activate Energy Acquisition Corp. (NASDAQ:AEAQ) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 806 shares, a drop of 40.3% from the September 15th total of 1,351 shares. Based on an average daily trading volume, of 32,228 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Activate Energy Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, Activate Energy Acquisition has an average rating of “Sell”.

Hedge Funds Weigh In On Activate Energy Acquisition

A hedge fund recently bought a new stake in Activate Energy Acquisition stock. BlueCrest Capital Management Ltd acquired a new position in Activate Energy Acquisition Corp. (NASDAQ:AEAQ) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 500,000 shares of the company’s stock, valued at approximately $5,000,000.

Activate Energy Acquisition Stock Up 0.1%

Shares of AEAQ opened at $10.11 on Friday. Activate Energy Acquisition has a 12 month low of $9.78 and a 12 month high of $10.10. The stock’s 50-day moving average price is $10.08 and its two-hundred day moving average price is $10.02.

Activate Energy Acquisition Company Profile

Activate Energy Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and combine with a business operating in the energy, energy-transition, sustainability or related infrastructure sectors. Unlike an operating company, it was established primarily to raise capital through a public offering and pursue a merger, acquisition, stock exchange or similar business combination.

The company’s stated focus includes businesses involved in the development, deployment or enabling of technologies and services related to the energy transition and decarbonization.