LanzaTech Global (NASDAQ:LNZA) Sees Unusually-High Trading Volume - Should You Buy?

LanzaTech Global, Inc. (NASDAQ:LNZA - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 5,511,199 shares traded hands 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.

Wall Street Analyst Weigh In

Separately, TD Cowen reduced their target price on LanzaTech Global from $3.00 to $2.00 and set a "hold" rating on the stock in a report on Monday, November 11th.

LanzaTech Global Trading Up 28.8 %

The firm's 50 day simple moving average is $1.37 and its 200-day simple moving average is $1.60. The company has a market capitalization of $407.40 million, a PE ratio of -3.17 and a beta of 1.42. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 6.64.

LanzaTech Global (NASDAQ:LNZA - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $9.94 million for the quarter, compared to analysts' expectations of $17.87 million. During the same period last year, the company posted ($0.13) earnings per share. As a group, equities research analysts anticipate that LanzaTech Global, Inc. will post -0.63 EPS for the current year.

Institutional Investors Weigh In On LanzaTech Global

A number of hedge funds have recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in LanzaTech Global during the second quarter valued at $26,000. Intech Investment Management LLC bought a new position in shares of LanzaTech Global during the third quarter valued at approximately $29,000. Principal Financial Group Inc. acquired a new position in LanzaTech Global during the 2nd quarter valued at approximately $28,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in LanzaTech Global by 8.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 227,627 shares of the company's stock worth $435,000 after buying an additional 18,391 shares during the period. Finally, Geode Capital Management LLC lifted its stake in LanzaTech Global by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,237,303 shares of the company's stock valued at $4,274,000 after buying an additional 23,023 shares during the last quarter. Institutional investors and hedge funds own 17.76% of the company's stock.

LanzaTech Global Company Profile

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.