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

AleAnna Inc. (NASDAQ:ANNA)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $10.24, but opened at $9.37. AleAnna shares last traded at $9.3710, with a volume of 1,198,925 shares trading hands.

Analyst Ratings Changes

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

AleAnna Trading Down 2.8%

The stock has a market cap of $663.63 million, a price-to-earnings ratio of 247.98 and a beta of -0.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.00 and a current ratio of 2.00. The company’s 50 day simple moving average is $3.62 and its two-hundred day simple moving average is $3.47.

Insider Activity at AleAnna

In other 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 transaction, the insider directly owned 30,359 shares of the company’s stock, valued at approximately $115,667.79. This represents a 75.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 325,784 shares of company stock worth $1,224,557. Insiders own 42.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ANNA. Keel Point LLC purchased a new stake in shares of AleAnna during the 2nd quarter worth about $79,000. Goldman Sachs Group Inc. bought a new stake in shares of AleAnna in the 1st quarter valued at approximately $94,000. Finally, Carlson Capital L.P. acquired a new position in AleAnna in the third quarter worth approximately $362,000. 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.