Added to YB: 2026-09-16
Pitch date: 2026-09-13
ANNA [bearish]
AleAnna, Inc.
+3.42%
current return
Author Info
I research small- and micro-cap companies in energy, mining, and the infrastructure around them. I use my background in economics to understand how these industries work: what drives costs, how projects are financed, how policy changes the economics, and what determines whether an investment gets built. Sign up for the newsletter.
Company Info
AleAnna, Inc., a development-stage natural gas resource company, focuses on delivering critical natural gas supplies in Europe and Italy.
Market Cap
$143.3M
Pitch Price
$3.51
Price Target
0.39 (-89%)
Dividend
N/A
EV/EBITDA
6.48
P/E
14.18
EV/Sales
3.41
Sector
Oil, Gas and Consumable Fuels
Category
value
AleAnna Is the Wrong Way to Own the European Gas Squeeze
ANNA (pass): AleAnna should be passed over rather than shorted: at $3.50, a model incorporating reconstructed volumes, fixed costs, the Enel payment and required financing yields $0.39 per share probability-weighted and $1.96 even in the bull case. Reconstructed field volume fell 31% across three quarters, while lease operating expense per unit rose sharply; however, no dated catalyst, a 3.7M-share float and ~250% borrow make the overvaluation dangerous to short.
Read full article (8 min)