LanzaTech Global (NASDAQ:LNZA) Sees Large Volume Increase – What’s Next?

Shares of LanzaTech Global, Inc. (NASDAQ:LNZA) saw unusually-high trading volume on Thursday . Approximately 5,511,199 shares were traded during mid-day 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.

Analysts Set New Price Targets

Separately, TD Cowen dropped their price target 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 Stock Down 9.7 %

The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 6.64. The company has a 50-day simple moving average of $1.37 and a 200 day simple moving average of $1.60. The company has a market cap of $367.84 million, a P/E ratio of -2.86 and a beta of 1.42.

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

Institutional Trading of LanzaTech Global

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its position in LanzaTech Global by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,237,303 shares of the company’s stock valued at $4,274,000 after purchasing an additional 23,023 shares in the last quarter. State Street Corp increased its stake in shares of LanzaTech Global by 6.3% during the third quarter. State Street Corp now owns 1,610,965 shares of the company’s stock valued at $3,077,000 after buying an additional 95,725 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of LanzaTech Global by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 756,552 shares of the company’s stock valued at $1,445,000 after acquiring an additional 25,629 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in LanzaTech Global by 433.7% in the second quarter. Bank of New York Mellon Corp now owns 312,021 shares of the company’s stock worth $577,000 after acquiring an additional 253,562 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in LanzaTech Global by 8.8% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 227,627 shares of the company’s stock worth $435,000 after acquiring 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.