AleAnna (NASDAQ:ANNA) Trading Down 2.1% – What’s Next?

AleAnna Inc. (NASDAQ:ANNA)’s stock price traded down 2.1% on Wednesday . The company traded as low as $2.80 and last traded at $2.84. 58,224 shares traded hands during trading, a decline of 79% from the average daily volume of 272,956 shares. The stock had previously closed at $2.90.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Weiss Ratings raised shares of AleAnna from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, June 12th. Wall Street Zen upgraded AleAnna to a “hold” rating in a research note on Saturday, April 11th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, AleAnna currently has a consensus rating of “Sell”.

AleAnna Trading Down 2.1%

The company has a market capitalization of $189.29 million, a P/E ratio of 20.29 and a beta of -1.63. The business’s 50-day simple moving average is $3.31 and its 200 day simple moving average is $3.59.

AleAnna (NASDAQ:ANNA) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $9.34 million during the quarter. AleAnna had a net margin of 17.43% and a return on equity of 10.22%.

Institutional Investors Weigh In On AleAnna

A number of institutional investors have recently added to or reduced their stakes in the company. Carlson Capital L.P. boosted its stake in AleAnna by 7.0% during the 4th quarter. Carlson Capital L.P. now owns 92,000 shares of the company’s stock valued at $265,000 after purchasing an additional 6,000 shares in the last quarter. Royal Bank of Canada bought a new stake in shares of AleAnna in the 1st quarter worth $242,000. Wesbanco Bank Inc. bought a new stake in shares of AleAnna in the 1st quarter worth $166,000. Goldman Sachs Group Inc. bought a new stake in shares of AleAnna in the 1st quarter worth $94,000. Finally, Keel Point LLC acquired a new stake in shares of AleAnna in the second quarter valued at $79,000. 38.10% of the stock is currently owned by institutional investors and hedge funds.

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.