Tellurian Inc. [NASDAQ: TELL] traded at a low on 08/03/21, posting a -0.85 loss after which it closed the day’ session at $3.51. The company report on August 4, 2021 that Tellurian Announces Public Offering of Common Stock.
Tellurian Inc. (Tellurian or the Company) (Nasdaq: TELL) announced that it intends to offer for sale shares of its common stock in an underwritten public offering. The Company also expects to grant the underwriter of the offering a 30-day option to purchase additional shares of common stock of the Company to cover over-allotments, if any. The Company intends to use the net proceeds from the offering for general corporate purposes, including the potential acquisition of upstream assets.
B. Riley Securities, Inc. is acting as the sole bookrunner for the offering.
The results of the trading session contributed to over 7354319 shares changing hands. Over the past one week, the price volatility of Tellurian Inc. stands at 10.72% while the volatility over the past one month is 9.29%.
The market cap for TELL stock reached $1.52 billion, with 356.68 million shares outstanding and 311.90 million shares in the current float. Compared to the average trading volume of 15.01M shares, TELL reached a trading volume of 7354319 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Tellurian Inc. [TELL]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TELL shares is $5.28 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TELL stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
B. Riley Securities have made an estimate for Tellurian Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 08, 2021. While these analysts kept the previous recommendation, Evercore ISI raised their target price from $3 to $7. The new note on the price target was released on June 08, 2021, representing the official price target for Tellurian Inc. stock. Previously, the target price had yet another raise from $2 to $8, while Morgan Stanley kept a Equal-Weight rating on TELL stock.
The Average True Range (ATR) for Tellurian Inc. is set at 0.34, with the Price to Sales ratio for TELL stock in the period of the last 12 months amounting to 40.05. The Price to Book ratio for the last quarter was 6.88, with the Price to Cash per share for the same quarter was set at 0.14.
How has TELL stock performed recently?
Tellurian Inc. [TELL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.63. With this latest performance, TELL shares dropped by -20.77% in over the last four-week period, additionally plugging by 7.67% over the last 6 months – not to mention a rise of 266.77% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TELL stock in for the last two-week period is set at 43.07, with the RSI for the last a single of trading hit 40.86, and the three-weeks RSI is set at 45.52 for Tellurian Inc. [TELL]. The present Moving Average for the last 50 days of trading for this stock 4.13, while it was recorded at 3.69 for the last single week of trading, and 2.56 for the last 200 days.
Tellurian Inc. [TELL]: Deeper insight into the fundamentals
Tellurian Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.
Insider trade positions for Tellurian Inc. [TELL]
There are presently around $344 million, or 24.20% of TELL stock, in the hands of institutional investors. The top three institutional holders of TELL stocks are: STATE STREET CORP with ownership of 23,481,581, which is approximately 770.468% of the company’s market cap and around 16.30% of the total institutional ownership; BLACKROCK INC., holding 13,530,353 shares of the stock with an approximate value of $47.49 million in TELL stocks shares; and VANGUARD GROUP INC, currently with $46.0 million in TELL stock with ownership of nearly 9.403% of the company’s market capitalization.
107 institutional holders increased their position in Tellurian Inc. [NASDAQ:TELL] by around 47,449,424 shares. Additionally, 46 investors decreased positions by around 2,858,740 shares, while 25 investors held positions by with 47,613,334 shares. The mentioned changes placed institutional holdings at 97,921,498 shares, according to the latest SEC report filing. TELL stock had 47 new institutional investments in for a total of 8,880,791 shares, while 19 institutional investors sold positions of 977,222 shares during the same period.