AleAnna (NASDAQ:ANNA) Stock Price Up 5.6% - Here's What Happened

Key Points

• Shares of AleAnna jumped 5.6% intraday, trading as high as $8.88 and last at $8.2490 on approximately 1.24 million shares, about 67% below its average daily volume.
• Analysts maintain a consensus Sell rating—Weiss Ratings reiterated a "sell (e+)"—per MarketBeat data.
• Insiders have been net sellers: major shareholder C. John Wilder sold 82,260 shares at about $4.17 on March 6, and insiders sold 325,784 shares (~$1.22M) over the past three months while still owning 42.9% of the company.

AleAnna Inc. (NASDAQ:ANNA - Get Free Report) shares rose 5.6% during mid-day trading on Tuesday . The stock traded as high as $8.88 and last traded at $8.2490. Approximately 1,237,729 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 3,765,640 shares. The stock had previously closed at $7.81.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of AleAnna in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, AleAnna currently has a consensus rating of "Sell".

AleAnna Stock Up 2.2%

The firm has a 50 day moving average price of $4.12 and a 200-day moving average price of $3.59. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.03. The firm has a market cap of $531.87 million, a PE ratio of 200.05 and a beta of -1.19.

Insiders Place Their Bets

In related news, major shareholder C John Wilder sold 82,260 shares of the business's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $4.17, for a total transaction of $343,024.20. Following the completion of the sale, the insider owned 30,152,940 shares in the company, valued at $125,737,759.80. The trade was a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 325,784 shares of company stock worth $1,224,557 in the last three months. 42.90% of the stock is owned by insiders.

Institutional Investors Weigh In On AleAnna

Several institutional investors have recently added to or reduced their stakes in the business. Carlson Capital L.P. lifted its stake in AleAnna by 7.0% during the fourth quarter. Carlson Capital L.P. now owns 92,000 shares of the company's stock worth $265,000 after purchasing an additional 6,000 shares during the last quarter. Keel Point LLC purchased a new stake in AleAnna during the second quarter worth approximately $79,000. Finally, Goldman Sachs Group Inc. purchased a new stake in AleAnna during the first quarter worth approximately $94,000. Hedge funds and other institutional investors own 38.10% of the company's stock.

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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