AleAnna (NASDAQ:ANNA) Trading Up 3.3% – Here’s Why

Shares of AleAnna Inc. (NASDAQ:ANNA) rose 3.3% during mid-day trading on Thursday . The company traded as high as $3.09 and last traded at $3.09. Approximately 1,621 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 7,478 shares. The stock had previously closed at $2.99.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of AleAnna in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

AleAnna Trading Up 3.3%

The stock’s 50 day simple moving average is $3.37 and its 200 day simple moving average is $4.70. The firm has a market cap of $205.95 million, a PE ratio of 77.25 and a beta of -0.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.00 and a current ratio of 2.00.

AleAnna (NASDAQ:ANNA) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.08 earnings per share for the quarter. AleAnna had a negative net margin of 46.01% and a negative return on equity of 14.90%. The firm had revenue of $11.22 million for the quarter.

Hedge Funds Weigh In On AleAnna

Hedge funds and other institutional investors have recently modified their holdings of the company. Keel Point LLC bought a new stake in AleAnna in the 2nd quarter worth approximately $79,000. Goldman Sachs Group Inc. bought a new position in AleAnna during the first quarter valued at approximately $94,000. NewGen Equity Long Short Fund purchased a new position in shares of AleAnna during the second quarter worth approximately $204,000. Finally, Carlson Capital L.P. bought a new stake in shares of AleAnna in the 3rd quarter worth approximately $362,000. 38.10% of the stock is currently owned by hedge funds and other institutional investors.

About AleAnna

AleAnna, Inc engages in oil and gas exploration and production activities. It focuses on Italy’s natural gas reserves and developing renewable energy solutions. The company was founded in 2007 and is headquartered in Dallas, TX.