The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Tellurian Inc. shares valued at $804,181 were sold by SOUKI CHARIF on Feb 21. At $1.43 per share, SOUKI CHARIF sold 562,364 shares. The insider’s holdings dropped to 15,565,812 shares worth approximately $25.37 million following the completion of this transaction.
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Also, SOUKI CHARIF sold 932,209 shares, netting a total of over 1,388,991 in proceeds. Following the sale of shares at $1.49 each, the insider now holds 16,128,176 shares.
Before that, SOUKI CHARIF had sold 761,456 shares from its account. In a trade valued at $1,119,340, the Executive Chairman traded Tellurian Inc. shares for $1.47 each. Upon closing the transaction, the insider’s holdings decreased to 761,456 shares, worth approximately $27.81 million.
As published in a research note from BofA Securities on February 14, 2023, Tellurian Inc. [TELL] has been rated down from a Buy to an Underperform and the price target has been revised to $1.50 from $4. This represents a -8.67% premium over Thursday’s closing price. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early August. As of August 02, 2022, Evercore ISI has decreased its “an Outperform” rating to a “an In-line” for TELL. Earlier on April 01, 2022, Credit Suisse upgraded its rating. Their new recommendation was “an Outperform” for TELL stock which previously was a “a Neutral”.
Analyzing TELL Stock Performance
On Thursday, Tellurian Inc. [AMEX: TELL] rose 9.40% to $1.63. The stock’s lowest price that day was $1.51, but it reached a high of $1.63 in the same session. During the last five days, there has been a surge of approximately 8.67%. Over the course of the year, Tellurian Inc. shares have dropped approximately -2.98%. Shares of the company reached a 52-week high of $2.1500 on 01/13/23 and a 52-week low of $1.3800 on 02/21/23. A 50-day SMA is recorded $1.8734, while a 200-day SMA reached $3.0206. Nevertheless, trading volume fell to 13.45 million shares from 15.34 million shares the previous day.
Support And Resistance Levels for Tellurian Inc. (TELL)
According to the 24-hour chart, there is a support level at 1.5500, which, if violated, would cause prices to drop to 1.4700. In the upper region, resistance lies at 1.6700. The next price resistance is at 1.7100. RSI (Relative Strength Index) is 44.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1914, which suggests the price will decrease in the coming days. Percent R is at 64.79%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Tellurian Inc. subject to short interest?
Stocks of Tellurian Inc. saw a sharp steep in short interest on Jan 12, 2023 dropping by -4.38 million shares to 87.28 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 91.66 million shares. A decline of -5.02% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.31 of the overall float, the days-to-cover ratio (short ratio) decline to 6.31.
Which companies own the most shares of Tellurian Inc. (TELL)?
According to SSgA Funds Management, Inc. filings, the company currently owns 45,104,005 shares, which is about 7.99% of the total TELL shares outstanding. The investor’s shares have appreciated by 15,836,682 from its previous 13-F filing of 29267323.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $78,263,559. BlackRock Fund Advisors acquire a 10.36% interest valued at $64.63 million while Geode Capital Management LLC purchased a 293,681 stake. A total of 333,845 shares of Tellurian Inc. were bought by D. E. Shaw & Co. LP during the quarter, and 5,945,549 were bought by Electron Capital Partners LLC. In its current portfolio, First Trust Advisors LP holds 5,823,280 shares valued at $11.79 million.
In terms of Tellurian Inc. share price expectations, FactSet research, analysts set an average price target of $4.04 in the next 12 months, up nearly 67.79% from the previous closing price of $1.49. Analysts anticipate Tellurian Inc. stock to reach $10.00 by 2023, with the lowest price target being $1.30. In spite of this, 7 analysts ranked Tellurian Inc. stock as a Hold at the end of 2023. On July 08, 2021, B. Riley Securities assigned a price target of “a Buy” to the stock and initiated coverage with a $8.