AleAnna (NASDAQ:ANNA) Trading Down 7% – Here’s What Happened

AleAnna Inc. (NASDAQ:ANNA)’s share price dropped 7% during mid-day trading on Thursday . The stock traded as low as $3.36 and last traded at $3.44. 449,267 shares changed hands during trading, an increase of 47% from the average daily volume of 304,998 shares. The stock had previously closed at $3.70.

Wall Street Analyst Weigh In

ANNA has been the subject of a number of analyst reports. 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 AleAnna to a “hold” rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

AleAnna Stock Down 7.0%

The business’s fifty day simple moving average is $3.13 and its two-hundred day simple moving average is $3.63. The company has a market cap of $229.28 million, a price-to-earnings ratio of 24.57 and a beta of -1.63.

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

Institutional Investors Weigh In On AleAnna

A number of institutional investors and hedge funds have recently bought and sold shares of ANNA. Goldman Sachs Group Inc. acquired a new position in AleAnna in the first quarter valued at $94,000. Keel Point LLC acquired a new stake in shares of AleAnna during the second quarter worth about $79,000. Carlson Capital L.P. lifted its holdings in shares of AleAnna by 7.0% in 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 during the last quarter. Wesbanco Bank Inc. purchased a new stake in shares of AleAnna in the 1st quarter valued at about $166,000. Finally, Royal Bank of Canada purchased a new stake in shares of AleAnna in the 1st quarter valued at about $242,000. 38.10% of the stock is owned by hedge funds and other institutional investors.

AleAnna Company Profile

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.