AleAnna Inc. (NASDAQ:ANNA) Sees Large Drop in Short Interest

AleAnna Inc. (NASDAQ:ANNA) was the target of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 163,983 shares, a decrease of 34.7% from the June 30th total of 251,186 shares. Based on an average trading volume of 378,016 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.4% of the company’s stock are sold short.

Analysts Set New Price Targets

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

Institutional Trading of AleAnna

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

AleAnna Price Performance

Shares of ANNA opened at $2.81 on Friday. AleAnna has a 1-year low of $2.31 and a 1-year high of $10.64. The stock has a market cap of $187.29 million, a PE ratio of 20.07 and a beta of -1.63. The firm has a fifty day moving average price of $3.08 and a 200 day moving average price of $3.63.

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

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.