AleAnna (NASDAQ:ANNA) Trading 2% Higher – Time to Buy?

AleAnna Inc. (NASDAQ:ANNA) shares shot up 2% during trading on Tuesday . The company traded as high as $3.20 and last traded at $3.11. 424,386 shares were traded during trading, an increase of 2% from the average session volume of 416,083 shares. The stock had previously closed at $3.05.

Analysts Set New Price Targets

Separately, Wall Street Zen raised AleAnna to a “hold” rating in a research report on Saturday, April 11th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

AleAnna Stock Up 2.0%

The firm has a 50-day moving average of $4.35 and a two-hundred day moving average of $3.61. The company has a market capitalization of $207.28 million, a PE ratio of 22.21 and a beta of -1.65.

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

Institutional Trading of AleAnna

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANNA. Goldman Sachs Group Inc. acquired a new position in shares of AleAnna in the first quarter worth about $94,000. Keel Point LLC purchased a new stake in shares of AleAnna during the 2nd quarter worth about $79,000. Carlson Capital L.P. grew its position in shares of 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 acquiring an additional 6,000 shares during the period. Wesbanco Bank Inc. purchased a new position in shares of AleAnna in the 1st quarter valued at about $166,000. Finally, Royal Bank of Canada acquired a new position in AleAnna in the 1st quarter worth about $242,000. Institutional investors and hedge funds own 38.10% of the company’s stock.

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.