- NYSEAMERICAN:TELL fell by 1.37% during Wednesday’s trading session.
- Tellurian begins construction of its Driftwood LNG project.
- Tellurian stock receives a downgrade from Zacks Investment Research.
NYSEAMERICAN:TELL extended its recent decline on Wednesday as the Liquefied Natural Gas company fell for the fourth straight session. Shares of TELL dropped by 1.37% and closed the trading day at $5.76. Tellurian remains trading at levels above both its 50-day and 200-day moving averages, as the LNG industry continues to make global headlines as more countries impose economic sanctions against Russia. The major indices diverged on Wednesday, mostly due to the utter collapse of Netflix (NASDAQ:NFLX) following a disappointing earnings report. The Dow Jones posted a 249 basis point gain, while the S&P 500 and the NASDAQ posted losses of 0.06% and 1.22% respectively during the session.
Tellurian has officially started construction on its Driftwood LNG project that is located in Lake Charles, Louisiana. The LNG terminal will be created in partnership with Bechtel Energy. The project is currently in Phase one and will see a second plant added to the property in Phase two. By the time the project is completed in 2026, it is anticipated that Tellurian will be able to export up to 11 million tonnes per annum. Tellurian is positioning itself to be a player in the LNG industry as the US becomes the top LNG exporter in the world.
TELL stock news
On Wednesday, Tellurian did receive an analyst downgrade from Zacks Investment Research. The investment research firm downgraded TELL from a hold rating to a sell rating. Earlier this month Credit Suisse upgraded TELL to a buy rating and raised its price target to $8.00. In total, five analysts who cover TELL have issued a buy rating, two have a hold rating, and one has a sell rating for the stock.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.