ArcLight Clean Transition Corp. II (NASDAQ:ACTD) Stock Rating Lowered by Zacks Investment Research

ArcLight Clean Transition Corp. II (NASDAQ:ACTD – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “ArcLight Clean Transition Corp. II entered into a definitive business combination agreement with OPAL Fuels LLC. “

Separately, Stifel Nicolaus assumed coverage on shares of ArcLight Clean Transition Corp. II in a research note on Monday, March 7th. They set a “buy” rating and a $24.00 price objective for the company.

ACTD stock traded up $0.02 during trading on Tuesday, hitting $9.92. The company had a trading volume of 100 shares, compared to its average volume of 259,373. The firm has a 50-day moving average price of $9.92 and a 200-day moving average price of $9.91. ArcLight Clean Transition Corp. II has a 12 month low of $9.61 and a 12 month high of $10.30.

Several large investors have recently added to or reduced their stakes in ACTD. Penserra Capital Management LLC acquired a new position in shares of ArcLight Clean Transition Corp. II in the fourth quarter valued at $28,000. Geode Capital Management LLC acquired a new position in shares of ArcLight Clean Transition Corp. II in the fourth quarter valued at about $170,000. MYDA Advisors LLC acquired a new position in shares of ArcLight Clean Transition Corp. II in the fourth quarter valued at about $211,000. Levin Capital Strategies L.P. acquired a new position in shares of ArcLight Clean Transition Corp. II in the fourth quarter valued at about $250,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of ArcLight Clean Transition Corp. II in the fourth quarter valued at about $250,000. Hedge funds and other institutional investors own 74.78% of the company’s 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. ArcLight Clean Transition Corp. II was incorporated in 2021 and is based in Boston, Massachusetts.

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