AleAnna (NASDAQ:ANNA) Shares Gap Down – Here’s What Happened

Shares of AleAnna Inc. (NASDAQ:ANNA) gapped down prior to trading on Tuesday . The stock had previously closed at $10.24, but opened at $9.37. AleAnna shares last traded at $9.3710, with a volume of 1,198,925 shares traded.

Analyst Ratings Changes

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

AleAnna Price Performance

The company’s 50-day moving average is $3.82 and its 200-day moving average is $3.52. The firm has a market capitalization of $483.88 million, a price-to-earnings ratio of 181.55 and a beta of -1.21. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.00 and a quick ratio of 2.00.

Insiders Place Their Bets

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

Institutional Trading of AleAnna

A number of institutional investors and hedge funds have recently made changes to their positions in ANNA. Carlson Capital L.P. raised its position 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 worth $265,000 after buying an additional 6,000 shares during the period. Keel Point LLC acquired a new stake in AleAnna during the second quarter worth about $79,000. Finally, Goldman Sachs Group Inc. acquired a new stake in AleAnna during the first quarter worth about $94,000. 38.10% of the stock is currently owned by institutional investors and hedge funds.

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.