AleAnna Inc. (NASDAQ:ANNA) Stock Short Interest Declines 35.0%

AleAnna Inc. (NASDAQ:ANNA) saw a significant decline in short interest in September. As of September 30th, there was short interest totaling 176,105 shares, a decline of 35.0% from the September 15th total of 270,903 shares. Based on an average daily trading volume, of 188,919 shares, the short-interest ratio is currently 0.9 days. Currently, 0.4% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of AleAnna from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

AleAnna Trading Down 0.8%

ANNA stock traded down $0.02 during midday trading on Friday, reaching $2.55. The stock had a trading volume of 294,878 shares, compared to its average volume of 148,998. The company’s fifty day simple moving average is $2.83 and its 200 day simple moving average is $3.42. The company has a market cap of $169.96 million, a price-to-earnings ratio of 13.42 and a beta of -1.59. AleAnna has a 52-week low of $2.31 and a 52-week high of $10.64.

AleAnna (NASDAQ:ANNA) last released its earnings results on Thursday, August 13th. The company reported $0.06 earnings per share for the quarter. AleAnna had a net margin of 19.76% and a return on equity of 12.95%. The business had revenue of $10.22 million for the quarter.

Institutional Trading of AleAnna

Institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new stake in shares of AleAnna during the 2nd quarter worth approximately $113,000. Royal Bank of Canada acquired a new position in shares of AleAnna in the 1st quarter valued at $242,000. Finally, Wesbanco Bank Inc. acquired a new position in shares of AleAnna in the 1st quarter valued at $166,000. Hedge funds and other institutional investors own 38.10% of the company’s stock.

About AleAnna

AleAnna, Inc (NASDAQ: ANNA) is an energy company focused on the exploration, development and production of natural gas and other hydrocarbons. The company’s activities are centered on onshore assets in Italy, with an emphasis on identifying and developing domestic energy resources.

AleAnna’s operations include evaluating prospective acreage, advancing exploration projects and developing natural gas fields through drilling, production and related infrastructure. Its portfolio has included projects in Italy’s Po Valley, a region with a history of natural gas exploration and production.

The company is positioned as an independent energy developer serving the Italian market.