AleAnna (NASDAQ:ANNA) Shares Down 3.1% – Here’s What Happened

AleAnna Inc. (NASDAQ:ANNA) traded down 3.1% during mid-day trading on Monday . The company traded as low as $3.34 and last traded at $3.39. 394,893 shares changed hands during trading, an increase of 67% from the average daily volume of 236,764 shares. The stock had previously closed at $3.50.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded AleAnna from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

AleAnna Stock Performance

The firm has a 50-day moving average price of $2.99 and a two-hundred day moving average price of $3.70. The firm has a market cap of $216.68 million, a price-to-earnings ratio of 17.05 and a beta of -1.61.

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

Hedge Funds Weigh In On AleAnna

Institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP purchased a new stake in shares of AleAnna in the second quarter valued at $113,000. Royal Bank of Canada acquired a new stake in AleAnna during the 1st quarter valued at $242,000. Finally, Wesbanco Bank Inc. purchased a new stake in AleAnna during the 1st quarter worth $166,000. Institutional investors and hedge funds 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 associated hydrocarbons. Its operations are centered in Italy, where the company seeks to develop domestic energy resources through exploration permits, production concessions and related infrastructure.

The company’s portfolio includes interests in the Po Valley of northern Italy, a region with an established history of natural gas production. AleAnna has focused on the Selva gas field and related exploration and development opportunities in the Emilia-Romagna area.