AleAnna (NASDAQ:ANNA) Shares Gap Down – What’s Next?

AleAnna Inc. (NASDAQ:ANNA)’s share price gapped down before the market opened on Monday . The stock had previously closed at $7.89, but opened at $7.42. AleAnna shares last traded at $7.5290, with a volume of 728,064 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of AleAnna in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

AleAnna Stock Up 1.2%

The stock has a fifty day moving average of $4.02 and a two-hundred day moving average of $3.57. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.03. The stock has a market cap of $531.93 million, a price-to-earnings ratio of 202.50 and a beta of -1.19.

Insider Activity at AleAnna

In other news, major shareholder C John Wilder sold 91,373 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $3.81, for a total value of $348,131.13. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 325,784 shares of company stock worth $1,224,557 in the last 90 days. Insiders own 42.90% of the company’s stock.

Hedge Funds Weigh In On AleAnna

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Carlson Capital L.P. grew its position in AleAnna by 7.0% in the fourth 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 in the last quarter. Keel Point LLC acquired a new position in shares of AleAnna during the second quarter worth $79,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of AleAnna in the first quarter valued at $94,000. 38.10% of the stock is owned by institutional investors and hedge funds.

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.