LanzaTech Global (NASDAQ:LNZA) Sees Unusually-High Trading Volume – Time to Buy?

LanzaTech Global, Inc. (NASDAQ:LNZA) saw strong trading volume on Thursday . 5,511,199 shares traded hands during trading, an increase of 1,028% from the previous session’s volume of 488,525 shares.The stock last traded at $2.59 and had previously closed at $1.60.

Analyst Upgrades and Downgrades

Separately, TD Cowen reduced their price objective on shares of LanzaTech Global from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Monday, November 11th.

LanzaTech Global Price Performance

The firm has a market capitalization of $367.84 million, a P/E ratio of -2.86 and a beta of 1.42. The stock’s fifty day simple moving average is $1.37 and its 200 day simple moving average is $1.60. The company has a debt-to-equity ratio of 6.64, a current ratio of 2.91 and a quick ratio of 2.91.

LanzaTech Global (NASDAQ:LNZA) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.16). LanzaTech Global had a negative return on equity of 180.10% and a negative net margin of 223.03%. The firm had revenue of $9.94 million for the quarter, compared to the consensus estimate of $17.87 million. During the same quarter last year, the firm earned ($0.13) EPS. On average, equities research analysts predict that LanzaTech Global, Inc. will post -0.63 EPS for the current year.

Institutional Trading of LanzaTech Global

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in LanzaTech Global by 181.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 135,530 shares of the company’s stock valued at $259,000 after buying an additional 87,392 shares in the last quarter. Barclays PLC grew its stake in shares of LanzaTech Global by 322.3% during the third quarter. Barclays PLC now owns 160,226 shares of the company’s stock worth $306,000 after acquiring an additional 122,289 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of LanzaTech Global by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,237,303 shares of the company’s stock valued at $4,274,000 after acquiring an additional 23,023 shares in the last quarter. State Street Corp raised its position in shares of LanzaTech Global by 6.3% in the 3rd quarter. State Street Corp now owns 1,610,965 shares of the company’s stock valued at $3,077,000 after purchasing an additional 95,725 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in LanzaTech Global by 8.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 227,627 shares of the company’s stock worth $435,000 after purchasing an additional 18,391 shares in the last quarter. Hedge funds and other institutional investors own 17.76% of the company’s stock.

About LanzaTech Global

LanzaTech Global, Inc operates as a nature-based carbon refining company in the United States and internationally. The company transforms waste carbon into the chemical building blocks for consumer goods, such as sustainable fuels, fabrics, and packaging. It is also developing biocatalysts and processes to produce a suite of additional products utilizing novel biocatalysts, including acetone and isopropanol (IPA) and industrial solvents used in various applications, including production of polymers from IPA.