Tellurian (NYSEAMERICAN:TELL) Shares Gap Up to $0.69

Tellurian Inc. (NYSEAMERICAN:TELL) gapped up prior to trading on Monday . The stock had previously closed at $0.69, but opened at $0.72. Tellurian shares last traded at $0.72, with a volume of 1,958,691 shares trading hands.

Wall Street Analysts Forecast Growth

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

Tellurian Price 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 company’s 50-day moving average is $0.66.

Tellurian (NYSEAMERICAN:TELL) last released 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). Tellurian had a negative return on equity of 25.12% and a negative net margin of 129.88%. The company had revenue of $25.47 million for the quarter, compared to analyst estimates of $34.19 million. As a group, sell-side analysts predict that Tellurian Inc. will post -0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Tellurian

Institutional investors and hedge funds have recently made changes to their positions in the stock. Traynor Capital Management Inc. lifted its holdings in Tellurian by 141.3% during the 4th quarter. Traynor Capital Management Inc. now owns 34,158 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 20,000 shares in the last quarter. Payden & Rygel Investment Group acquired a new stake in shares of Tellurian in the first quarter valued at $26,000. Tower Research Capital LLC TRC boosted its holdings in Tellurian by 66.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 53,788 shares of the oil and gas producer’s stock valued at $41,000 after purchasing an additional 21,518 shares during the period. ORG Partners LLC acquired a new position in Tellurian during the 4th quarter worth $50,000. Finally, Laird Norton Trust Company LLC acquired a new position in Tellurian during the 3rd quarter worth $58,000. 48.87% of the stock is owned by hedge funds and other institutional investors.

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.