AleAnna (NASDAQ:ANNA) Shares Gap Up – Should You Buy?

AleAnna Inc. (NASDAQ:ANNA)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $5.45, but opened at $6.91. AleAnna shares last traded at $7.9020, with a volume of 31,159,372 shares changing hands.

Analyst Ratings Changes

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

AleAnna Stock Performance

The company has a market cap of $551.03 million, a PE ratio of 206.68 and a beta of -0.02. The stock has a 50 day simple moving average of $3.06 and a two-hundred day simple moving average of $3.34. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.00 and a quick ratio of 2.00.

Insider Activity at AleAnna

In related news, major shareholder C John Wilder sold 91,373 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were 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 in the company, valued at $115,667.79. This represents a 75.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 325,784 shares of company stock valued at $1,224,557. Insiders own 42.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Carlson Capital L.P. raised its holdings in shares of 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 buying an additional 6,000 shares during the last quarter. Keel Point LLC acquired a new position in AleAnna in the 2nd quarter valued at about $79,000. Finally, Goldman Sachs Group Inc. acquired a new position in AleAnna in the 1st quarter valued at about $94,000. 38.10% of the stock is currently owned by institutional investors and hedge funds.

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.