The Week Ahead: Are Investors Really Too Optimistic About AltC Acquisition Corp (NYSE: ALCC)

AltC Acquisition Corp (NYSE:ALCC) currently has a daily average trading volume of 668.37K but it saw 1393198 shares traded in last market. With a market cap of 600.81M USD, the company’s current market price of $13.94 came rising about 1.46 while comparing to the previous closing price of $13.74. In past 52 weeks, the stock remained buoying in the range of price level as high as $17.49 and as low as $10.24.

Taking a look at 20-day trading activity of AltC Acquisition Corp (ALCC) gives us an average price of $13.28, while its current price level is -20.30% below from 52-week high level whereas it is 36.13% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $11.89 while that of 200 days or SMA-200 reads an average of $10.80. A closer look into the stock’s movement over the week reveals that its volatility is standing at 10.23% during that period while stretching the period over a month that decreases to 8.26%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 59.79 which implies that the stock is in neutral territory.

Over the week, ALCC’s stock price is moving 4.03% up while it is 10.63% when we observe its performance for the past one month. Year-to-date it is 32.01% up and over the past year, the stock is showing an upside performance of 35.74%.

Currently, AltC Acquisition Corp’s total number of outstanding shares is 30.60M. Company’s return on investment (ROI) stands at 4.02% and return on equity (ROE) at 3.02%. It has a price to earnings ratio (P/E ratio) of 69.73. Stock’s beta reads -0.06. Stock has a price to book (P/B) ratio of 2.04. Its return on asset (ROA) is 2.91% on average.