LanzaTech Global (NASDAQ:LNZA) Shares Down 6.1% - Here's What Happened

LanzaTech Global, Inc. (NASDAQ:LNZA - Get Free Report) shares dropped 6.1% during mid-day trading on Thursday . The stock traded as low as $0.28 and last traded at $0.30. Approximately 695,926 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 1,482,104 shares. The stock had previously closed at $0.32.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Roth Capital lowered LanzaTech Global from a "strong-buy" rating to a "hold" rating in a report on Monday, May 19th. Janney Montgomery Scott downgraded shares of LanzaTech Global from a "buy" rating to a "neutral" rating in a research note on Thursday, March 13th.

LanzaTech Global Trading Up 11.5%

The firm's fifty day simple moving average is $0.24 and its 200 day simple moving average is $0.70. The stock has a market capitalization of $69.59 million, a P/E ratio of -0.46 and a beta of 1.74. The company has a debt-to-equity ratio of 6.64, a quick ratio of 2.91 and a current ratio of 2.91.

LanzaTech Global (NASDAQ:LNZA - Get Free Report) last announced its quarterly earnings data on Monday, May 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.01. LanzaTech Global had a negative net margin of 223.03% and a negative return on equity of 180.10%. The business had revenue of $9.48 million for the quarter, compared to analysts' expectations of $30.58 million. As a group, equities research analysts forecast that LanzaTech Global, Inc. will post -0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On LanzaTech Global

Institutional investors have recently modified their holdings of the business. DRW Securities LLC bought a new position in LanzaTech Global in the fourth quarter valued at about $30,000. SBI Securities Co. Ltd. grew its stake in shares of LanzaTech Global by 16,556.3% in the first quarter. SBI Securities Co. Ltd. now owns 170,394 shares of the company's stock worth $41,000 after purchasing an additional 169,371 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of LanzaTech Global by 1,045.1% in the first quarter. AQR Capital Management LLC now owns 184,346 shares of the company's stock worth $45,000 after purchasing an additional 168,247 shares during the last quarter. Nuveen LLC bought a new stake in shares of LanzaTech Global in the first quarter worth $49,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of LanzaTech Global by 45.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,253 shares of the company's stock worth $72,000 after purchasing an additional 16,325 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.