AleAnna (NASDAQ:ANNA) Trading Up 2% – Still a Buy?

Shares of AleAnna Inc. (NASDAQ:ANNA) were up 2% during trading on Tuesday . The stock traded as high as $3.20 and last traded at $3.11. Approximately 424,386 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 416,083 shares. The stock had previously closed at $3.05.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of AleAnna to a “hold” rating in a research report on Saturday, April 11th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, AleAnna has a consensus rating of “Sell”.

AleAnna Trading Down 5.3%

The company has a 50 day simple moving average of $4.12 and a 200 day simple moving average of $3.62. The stock has a market capitalization of $225.28 million, a PE ratio of 24.14 and a beta of -1.65.

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

Hedge Funds Weigh In On AleAnna

A number of large investors have recently bought and sold shares of ANNA. Royal Bank of Canada purchased a new position in AleAnna during the 1st quarter worth $242,000. Wesbanco Bank Inc. purchased a new position in shares of AleAnna during the 1st quarter worth approximately $166,000. Goldman Sachs Group Inc. purchased a new position in shares of AleAnna during the 1st quarter worth approximately $94,000. Keel Point LLC purchased a new position in shares of AleAnna during the 2nd quarter worth approximately $79,000. Finally, Carlson Capital L.P. raised its stake in shares of 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 buying an additional 6,000 shares in the last quarter. 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.