AleAnna Inc. (NASDAQ:ANNA) Short Interest Down 42.4% in April

Key Points

• Short interest plunged 42.4% in April to 384,254 shares (about 1.0% of shares sold short), with a days-to-cover ratio of just 0.1 based on average daily volume.
• Analysts remain largely negative overall—Weiss Ratings reaffirmed a “sell” while Wall Street Zen moved to a “hold,” leaving the consensus rating as “Sell.”
• Insiders have been active: major shareholder C John Wilder sold 82,260 shares in March and insiders sold 325,784 shares last quarter, while institutional ownership stands at about 38.1% with several new small stakes reported.

AleAnna Inc. (NASDAQ:ANNA - Get Free Report) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totaling 384,254 shares, a decrease of 42.4% from the March 31st total of 667,305 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,847,635 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Ratings Changes

Several analysts have weighed in on ANNA shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of AleAnna in a research note on Wednesday, January 21st. Wall Street Zen raised shares of AleAnna to a "hold" rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Sell".

AleAnna Price Performance

Shares of AleAnna stock opened at $3.95 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $263.27 million, a price-to-earnings ratio of 98.77 and a beta of -1.19. AleAnna has a 1-year low of $2.31 and a 1-year high of $12.30. The firm's 50-day moving average price is $4.73 and its two-hundred day moving average price is $3.65.

Insiders Place Their Bets

In other AleAnna news, major shareholder C John Wilder sold 82,260 shares of the company's stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $4.17, for a total transaction of $343,024.20. Following the sale, the insider directly owned 30,152,940 shares of the company's stock, valued at approximately $125,737,759.80. This represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 325,784 shares of company stock worth $1,224,557 over the last quarter. 42.90% of the stock is currently owned by corporate insiders.

Institutional Trading of AleAnna

Hedge funds have recently modified their holdings of the stock. Wesbanco Bank Inc. bought a new stake in shares of AleAnna during the first quarter valued at approximately $166,000. Keel Point LLC bought a new stake in shares of AleAnna during the second quarter valued at approximately $79,000. Goldman Sachs Group Inc. bought a new stake in shares of AleAnna during the first quarter valued at approximately $94,000. Finally, Carlson Capital L.P. grew its stake in shares of 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 during the last quarter. 38.10% of the stock is owned by institutional investors.

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.

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