Tellurian (NYSEAMERICAN:TELL) Shares Gap Up to $0.64

Tellurian Inc. (NYSEAMERICAN:TELL)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $0.64, but opened at $0.66. Tellurian shares last traded at $0.60, with a volume of 4,723,789 shares traded.

Analyst Ratings Changes

Separately, B. Riley dropped their price objective on shares of Tellurian from $3.00 to $2.50 and set a “buy” rating on the stock in a report on Friday, May 31st.

Tellurian Stock Down 1.7 %

The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.68. The business has a 50-day simple moving average of $0.67. The company has a market cap of $524.23 million, a P/E ratio of -2.09 and a beta of 2.46.

Tellurian (NYSEAMERICAN:TELL) last posted its quarterly earnings data on Thursday, May 2nd. The oil and gas producer reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $25.47 million for the quarter, compared to analyst estimates of $34.19 million. Tellurian had a negative return on equity of 25.12% and a negative net margin of 129.88%. On average, sell-side analysts forecast that Tellurian Inc. will post -0.18 EPS for the current year.

Institutional Investors Weigh In On Tellurian

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $5,060,000 after purchasing an additional 495,864 shares during the period. Algert Global LLC purchased a new stake in shares of Tellurian in the third quarter valued at about $402,000. Summit Financial Wealth Advisors LLC purchased a new stake in shares of Tellurian in the third quarter valued at about $42,000. Laird Norton Trust Company LLC purchased a new stake in shares of Tellurian in the third quarter valued at about $58,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of Tellurian in the third quarter valued at about $68,000. 48.87% of the stock is currently owned by institutional investors and hedge funds.

Tellurian Company Profile

Tellurian Inc engages in the natural gas business worldwide. It operates through three segments: The Upstream, The Midstream, and The Marketing & Trading. The company produces, gathers, purchases, sells, and delivers natural gas; acquires and develops natural gas assets; and develops, constructs, and operates liquefied natural gas terminals and pipelines.