AleAnna (NASDAQ:ANNA) Shares Gap Up – Here’s What Happened

AleAnna Inc. (NASDAQ:ANNA)’s share price gapped up before the market opened 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 traded.

Analyst Upgrades and Downgrades

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

AleAnna Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.00 and a quick ratio of 2.00. The company has a 50-day simple moving average of $3.06 and a 200-day simple moving average of $3.34. The stock has a market cap of $551.03 million, a PE ratio of 206.68 and a beta of -0.02.

Insider Buying and Selling at AleAnna

In other news, major shareholder C John Wilder sold 91,373 shares of the stock in a transaction dated 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 transaction, the insider owned 30,359 shares in the company, valued at $115,667.79. This trade represents a 75.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 325,784 shares of company stock worth $1,224,557. Corporate insiders own 42.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANNA. Keel Point LLC purchased a new stake in shares of AleAnna during the 2nd quarter worth approximately $79,000. Goldman Sachs Group Inc. acquired a new stake in shares of AleAnna in the 1st quarter worth approximately $94,000. Finally, Carlson Capital L.P. increased its stake in AleAnna by 7.0% in the 4th 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. 38.10% of the stock is currently owned by institutional investors and hedge funds.

About AleAnna

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.