AleAnna (NASDAQ:ANNA) Shares Down 0.4% – Here’s Why

AleAnna Inc. (NASDAQ:ANNA)’s stock price was down 0.4% during trading on Friday . The company traded as low as $2.77 and last traded at $2.84. Approximately 135,878 shares were traded during mid-day trading, a decline of 35% from the average session volume of 210,584 shares. The stock had previously closed at $2.85.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of AleAnna from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

AleAnna Stock Performance

The firm has a market cap of $189.29 million, a price-to-earnings ratio of 14.95 and a beta of -1.62. The firm’s 50 day moving average is $2.92 and its 200-day moving average is $3.63.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada bought a new position in shares of AleAnna in the 1st quarter valued at approximately $242,000. Wesbanco Bank Inc. bought a new stake in AleAnna during the first quarter worth approximately $166,000. Carlson Capital L.P. boosted its position in 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 purchasing an additional 6,000 shares during the period. Keel Point LLC acquired a new position in AleAnna during the second quarter valued at approximately $79,000. Finally, Goldman Sachs Group Inc. acquired a new position in AleAnna during the first quarter valued at approximately $94,000. Institutional investors and hedge funds own 38.10% of the company’s stock.

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.