AleAnna (NASDAQ:ANNA) Sees Unusually-High Trading Volume – What’s Next?

AleAnna Inc. (NASDAQ:ANNA) shares saw strong trading volume on Thursday . 5,234,383 shares changed hands during mid-day trading, an increase of 47% from the previous session’s volume of 3,567,854 shares.The stock last traded at $7.6010 and had previously closed at $6.97.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AleAnna in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

AleAnna Price Performance

The stock has a market capitalization of $567.19 million, a P/E ratio of 212.75 and a beta of -0.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a 50-day simple moving average of $3.46 and a 200 day simple moving average of $3.44.

Insider Activity

In other news, major shareholder C John Wilder sold 91,373 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $3.81, for a total transaction of $348,131.13. Following the transaction, the insider owned 30,359 shares of the company’s stock, valued at $115,667.79. This represents a 75.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 325,784 shares of company stock worth $1,224,557 over the last quarter. Corporate insiders own 42.90% of the company’s stock.

Institutional Trading of AleAnna

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Carlson Capital L.P. lifted its position 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 during the period. Keel Point LLC bought a new position in shares of AleAnna in the 2nd quarter valued at about $79,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of AleAnna during the 1st quarter worth approximately $94,000. 38.10% of the stock is owned by 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.