AleAnna Inc. (NASDAQ:ANNA) Sees Significant Drop in Short Interest

AleAnna Inc. (NASDAQ:ANNA) was the target of a large drop in short interest in June. As of June 15th, there was short interest totaling 279,727 shares, a drop of 37.7% from the May 31st total of 449,245 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily volume of 432,572 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Investors Weigh In On AleAnna

A number of large investors have recently added to or reduced their stakes in ANNA. Royal Bank of Canada bought a new position in shares of AleAnna during the 1st quarter valued at $242,000. Wesbanco Bank Inc. purchased a new stake in AleAnna during the first quarter valued at $166,000. Carlson Capital L.P. lifted its holdings in AleAnna by 7.0% in the fourth quarter. Carlson Capital L.P. now owns 92,000 shares of the company’s stock valued at $265,000 after acquiring an additional 6,000 shares during the period. Keel Point LLC purchased a new position in AleAnna in the second quarter worth about $79,000. Finally, Goldman Sachs Group Inc. purchased a new position in AleAnna in the first quarter worth about $94,000. Institutional investors own 38.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ANNA. Weiss Ratings upgraded shares of AleAnna from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Wall Street Zen upgraded shares of AleAnna to a “hold” rating in a report on Saturday, April 11th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

AleAnna Stock Performance

Shares of NASDAQ:ANNA opened at $2.71 on Friday. The firm has a market cap of $180.63 million, a price-to-earnings ratio of 19.36 and a beta of -1.63. The business has a 50-day simple moving average of $3.27 and a two-hundred day simple moving average of $3.59. AleAnna has a fifty-two week low of $2.31 and a fifty-two week high of $10.64.

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

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.