AleAnna (NASDAQ:ANNA) Shares Up 5.6% – Here’s What Happened

AleAnna Inc. (NASDAQ:ANNA) shot up 5.6% on Tuesday . The stock traded as high as $8.88 and last traded at $8.2490. 1,237,729 shares changed hands during trading, a decline of 67% from the average session volume of 3,765,640 shares. The stock had previously closed at $7.81.

Analyst Upgrades and Downgrades

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, According to MarketBeat.com, the company presently has an average rating of “Sell”.

AleAnna Trading Down 19.5%

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 firm’s 50-day moving average price is $4.29 and its 200 day moving average price is $3.64. The company has a market capitalization of $423.23 million, a P/E ratio of 158.79 and a beta of -1.19.

Insider Activity at AleAnna

In other news, major shareholder C John Wilder sold 82,260 shares of the business’s stock in a transaction dated 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 $125,737,759.80. The trade was a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 325,784 shares of company stock worth $1,224,557 over the last ninety days. Insiders own 42.90% of the company’s stock.

Institutional Investors Weigh In On AleAnna

Hedge funds and other institutional investors have recently made changes to their positions in the business. Keel Point LLC bought a new stake in shares of AleAnna during the second quarter worth about $79,000. Goldman Sachs Group Inc. bought a new stake in shares of AleAnna during the first quarter worth about $94,000. Finally, Carlson Capital L.P. increased its position in shares of AleAnna by 7.0% during the fourth 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. 38.10% of the stock is owned by 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.