AleAnna (NASDAQ:ANNA) Sees Large Volume Increase – Time to Buy?

Shares of AleAnna Inc. (NASDAQ:ANNA) saw an uptick in trading volume on Thursday . 5,234,383 shares were traded during mid-day trading, an increase of 47% from the previous session’s volume of 3,567,854 shares.The stock last traded at $7.6010 and had previously closed at $6.97.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of AleAnna in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, AleAnna has a consensus rating of “Sell”.

AleAnna Price Performance

The stock has a market cap of $509.87 million, a PE ratio of 188.13 and a beta of -0.02. The firm’s fifty day moving average price is $3.26 and its 200 day moving average price is $3.39. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.03.

Insider Activity at AleAnna

In other news, major shareholder C John Wilder sold 91,373 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $3.81, for a total transaction of $348,131.13. Following the completion of the transaction, the insider owned 30,359 shares in the company, valued at $115,667.79. This trade represents a 75.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 325,784 shares of company stock worth $1,224,557. 42.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AleAnna

Several institutional investors have recently added to or reduced their stakes in ANNA. Keel Point LLC bought a new position in shares of AleAnna during the 2nd quarter valued at approximately $79,000. Goldman Sachs Group Inc. bought a new stake in AleAnna in the first quarter worth $94,000. Finally, Carlson Capital L.P. raised its stake in AleAnna by 7.0% during the fourth quarter. Carlson Capital L.P. now owns 92,000 shares of the company’s stock valued at $265,000 after purchasing an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors 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.