AleAnna (NASDAQ:ANNA) Sees Large Volume Increase – Time to Buy?

AleAnna Inc. (NASDAQ:ANNA) saw unusually-strong trading volume on Thursday . Approximately 5,234,383 shares traded 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 restated a “sell (e+)” rating on shares of AleAnna in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

AleAnna Price Performance

The stock has a 50 day moving average of $3.26 and a 200-day moving average of $3.39. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $509.87 million, a P/E ratio of 188.13 and a beta of -0.02.

Insider Buying and Selling at AleAnna

In other news, major shareholder C John Wilder sold 82,260 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $4.17, for a total transaction of $343,024.20. Following the completion of the sale, the insider directly owned 30,152,940 shares of the company’s stock, valued at approximately $125,737,759.80. The trade was a 0.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 325,784 shares of company stock worth $1,224,557 in the last ninety days. 42.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AleAnna

Several large investors have recently added to or reduced their stakes in ANNA. Carlson Capital L.P. grew its stake in 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 acquiring an additional 6,000 shares in the last quarter. Keel Point LLC bought a new position in AleAnna in the second quarter worth approximately $79,000. Finally, Goldman Sachs Group Inc. bought a new stake in AleAnna during the 1st quarter valued at $94,000. 38.10% of the stock is owned by hedge funds and other institutional investors.

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.