Tellurian Inc. (NYSEAMERICAN:TELL – Get Free Report) shot up 7.5% during trading on Wednesday . The stock traded as high as $0.94 and last traded at $0.93. 5,945,636 shares traded hands during trading, a decline of 83% from the average session volume of 35,346,547 shares. The stock had previously closed at $0.86.
Analyst Upgrades and Downgrades
Separately, Morgan Stanley decreased their target price on shares of Tellurian from $2.50 to $1.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 13th.
Tellurian Stock Performance
The company’s 50-day simple moving average is $0.90. The company has a market cap of $594.85 million, a PE ratio of -3.00 and a beta of 2.36. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.77.
Tellurian (NYSEAMERICAN:TELL – Get Free Report) last announced its quarterly earnings data on Friday, February 23rd. The oil and gas producer reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. Tellurian had a negative net margin of 100.03% and a negative return on equity of 22.05%. The firm had revenue of $39.96 million during the quarter, compared to analyst estimates of $55.22 million. Equities research analysts forecast that Tellurian Inc. will post -0.21 earnings per share for the current fiscal year.
Insider Buying and Selling at Tellurian
In other news, Director Jonathan S. Gross acquired 120,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were acquired at an average cost of $0.67 per share, with a total value of $80,400.00. Following the transaction, the director now owns 460,000 shares in the company, valued at approximately $308,200. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 6.20% of the stock is currently owned by corporate insiders.
Institutional Trading of Tellurian
A number of institutional investors and hedge funds have recently modified their holdings of TELL. Bank of New York Mellon Corp increased its stake in shares of Tellurian by 8.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,864,314 shares of the oil and gas producer’s stock worth $2,629,000 after purchasing an additional 150,846 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Tellurian by 576.8% in the third quarter. SG Americas Securities LLC now owns 232,967 shares of the oil and gas producer’s stock worth $270,000 after buying an additional 198,546 shares during the period. Kestra Private Wealth Services LLC lifted its position in shares of Tellurian by 70.8% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 41,000 shares of the oil and gas producer’s stock valued at $48,000 after buying an additional 17,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Tellurian by 12.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,362,138 shares of the oil and gas producer’s stock worth $5,060,000 after purchasing an additional 495,864 shares during the period. Finally, Foundations Investment Advisors LLC bought a new stake in shares of Tellurian during the 3rd quarter valued at $30,000. Institutional investors own 32.62% of the company’s stock.
Tellurian Company Profile
Tellurian Inc engages in the natural gas business worldwide. The company is developing a portfolio of natural gas production, liquefied natural gas (LNG) marketing, and infrastructure assets that includes an approximately 27.6 million tons per annum LNG export facility and an associated pipeline. It owns interests in 27,689 net acres of natural gas assets and 143 producing wells located in the Haynesville Shale trend of northern Louisiana.