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

Tellurian Inc. (NYSEAMERICAN:TELL)’s share price gapped down prior to trading 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 trading hands.

Analysts Set New Price Targets

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

Tellurian Stock Down 4.9 %

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

Tellurian (NYSEAMERICAN:TELL) last announced its quarterly earnings data 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 company 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%. On average, equities analysts predict that Tellurian Inc. will post -0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tellurian

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Tellurian by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 42,954,827 shares of the oil and gas producer’s stock worth $49,828,000 after buying an additional 1,844,374 shares in the last quarter. SG Americas Securities LLC increased its holdings in Tellurian by 31.5% in the 4th quarter. SG Americas Securities LLC now owns 306,395 shares of the oil and gas producer’s stock worth $232,000 after purchasing an additional 73,428 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Tellurian by 73.0% in the 4th quarter. New York State Common Retirement Fund now owns 787,273 shares of the oil and gas producer’s stock worth $595,000 after purchasing an additional 332,323 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in Tellurian by 124.5% in the 4th quarter. Rafferty Asset Management LLC now owns 2,910,652 shares of the oil and gas producer’s stock worth $2,199,000 after purchasing an additional 1,614,230 shares in the last quarter. Finally, Beacon Pointe Advisors LLC increased its holdings in Tellurian by 55.3% in the 4th quarter. Beacon Pointe Advisors LLC now owns 104,313 shares of the oil and gas producer’s stock worth $79,000 after purchasing an additional 37,164 shares in the last quarter. Institutional investors and hedge funds 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.