Tellurian (NYSEAMERICAN:TELL) Shares Gap Down to $0.80

Tellurian Inc. (NYSEAMERICAN:TELL)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $0.80, but opened at $0.76. Tellurian shares last traded at $0.79, with a volume of 8,743,465 shares traded.

Analyst Ratings Changes

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

Tellurian Stock Performance

The company has a debt-to-equity ratio of 0.68, a current ratio of 0.46 and a quick ratio of 0.46. The firm has a 50-day simple moving average of $0.66.

Tellurian (NYSEAMERICAN:TELL) last released its earnings results on Thursday, May 2nd. The oil and gas producer reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $25.47 million during the quarter, compared to analyst estimates of $34.19 million. Tellurian had a negative net margin of 129.88% and a negative return on equity of 25.12%. As a group, equities research analysts predict that Tellurian Inc. will post -0.18 EPS for the current year.

Institutional Trading of Tellurian

Large investors have recently modified their holdings of the stock. Traynor Capital Management Inc. increased its holdings in shares of Tellurian by 141.3% in the 4th quarter. Traynor Capital Management Inc. now owns 34,158 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 20,000 shares during the last quarter. Payden & Rygel Investment Group purchased a new position in shares of Tellurian in the 1st quarter valued at $26,000. Laird Norton Trust Company LLC acquired a new stake in Tellurian during the 3rd quarter worth $58,000. Tower Research Capital LLC TRC raised its stake in Tellurian by 66.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 53,788 shares of the oil and gas producer’s stock worth $41,000 after acquiring an additional 21,518 shares in the last quarter. Finally, Tucker Asset Management LLC purchased a new stake in Tellurian in the third quarter valued at $68,000. Hedge funds and other institutional investors own 48.87% of the company’s stock.

About Tellurian

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.