AleAnna (NASDAQ:ANNA) Shares Gap Down - Time to Sell?

Key Points

• Shares gapped down, opening at $7.42 versus the prior close of $7.89 and last trading at $7.53 on volume of 728,064, while the 50- and 200-day moving averages sit near $4.02 and $3.57.
• Analyst sentiment is negative: Weiss Ratings reiterated a “sell (e+)” and MarketBeat data shows a consensus Sell rating.
• Significant insider selling: major shareholder C John Wilder sold 91,373 shares (a 75% reduction) at an average $3.81, and insiders have sold 325,784 shares (~$1.22M) in the past 90 days, though insiders still own 42.9% of the company.

AleAnna Inc. (NASDAQ:ANNA - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $7.89, but opened at $7.42. AleAnna shares last traded at $7.5290, with a volume of 728,064 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of AleAnna in a research 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 Trading Up 1.2%

The firm has a market cap of $531.93 million, a PE ratio of 202.50 and a beta of -1.19. 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 business has a 50-day moving average price of $4.02 and a two-hundred day moving average price of $3.57.

Insiders Place Their Bets

In other AleAnna news, major shareholder C John Wilder sold 91,373 shares of AleAnna stock in a transaction dated Tuesday, March 3rd. The shares were 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 approximately $115,667.79. The trade was a 75.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 325,784 shares of company stock worth $1,224,557. Company insiders own 42.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Carlson Capital L.P. lifted 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 buying an additional 6,000 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of AleAnna in the first quarter valued at $94,000. Finally, Keel Point LLC acquired a new stake in shares of AleAnna during the second quarter valued at $79,000. 38.10% of the stock is owned by hedge funds and other institutional investors.

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.

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