AleAnna (NASDAQ:ANNA) Shares Down 7% – Here’s What Happened

AleAnna Inc. (NASDAQ:ANNA)’s stock price fell 7% during mid-day trading on Thursday . The company traded as low as $3.36 and last traded at $3.44. 449,267 shares traded hands during trading, an increase of 47% from the average session volume of 304,998 shares. The stock had previously closed at $3.70.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Weiss Ratings raised shares of AleAnna from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Wall Street Zen raised shares of AleAnna to a “hold” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

AleAnna Stock Down 7.0%

The stock has a market capitalization of $229.28 million, a PE ratio of 24.57 and a beta of -1.63. The stock has a fifty day moving average of $3.13 and a 200-day moving average of $3.63.

AleAnna (NASDAQ:ANNA) last released its earnings results on Thursday, May 14th. The company reported $0.05 EPS for the quarter. AleAnna had a return on equity of 10.22% and a net margin of 17.43%.The firm had revenue of $9.34 million during the quarter.

Hedge Funds Weigh In On AleAnna

A number of institutional investors and hedge funds have recently made changes to their positions in ANNA. Keel Point LLC purchased a new stake in shares of AleAnna during the second quarter worth approximately $79,000. Goldman Sachs Group Inc. purchased a new position in AleAnna in the first quarter worth approximately $94,000. Wesbanco Bank Inc. purchased a new position in AleAnna in the first quarter worth approximately $166,000. Royal Bank of Canada acquired a new position in AleAnna during the 1st quarter worth approximately $242,000. Finally, Carlson Capital L.P. grew its holdings in AleAnna by 7.0% during the 4th quarter. Carlson Capital L.P. now owns 92,000 shares of the company’s stock worth $265,000 after acquiring an additional 6,000 shares in the last quarter. 38.10% of the stock is 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.