LanzaTech Global (NASDAQ:LNZA) Posts Earnings Results, Beats Expectations By $1.11 EPS

LanzaTech Global (NASDAQ:LNZA) posted its quarterly earnings data on Thursday. The company reported ($1.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.88) by $1.11, FiscalAI reports. The company had revenue of $12.02 million for the quarter, compared to the consensus estimate of $12.10 million.

LanzaTech Global Stock Performance

Shares of NASDAQ LNZA traded down $7.42 during midday trading on Friday, hitting $9.73. 376,052 shares of the company traded hands, compared to its average volume of 36,187. LanzaTech Global has a 12-month low of $7.88 and a 12-month high of $71.19. The stock has a 50-day moving average price of $20.97 and a 200 day moving average price of $16.25. The firm has a market cap of $98.18 million and a P/E ratio of -10.03.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LNZA shares. Wall Street Zen raised shares of LanzaTech Global to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of LanzaTech Global in a research note on Tuesday, April 21st. Finally, Zacks Research raised shares of LanzaTech Global to a “hold” rating in a research note on Wednesday, April 1st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $14.00.

Hedge Funds Weigh In On LanzaTech Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in shares of LanzaTech Global during the second quarter valued at about $230,000. DRW Securities LLC purchased a new position in shares of LanzaTech Global during the fourth quarter valued at about $160,000. Marshall Wace LLP purchased a new position in shares of LanzaTech Global during the second quarter valued at about $82,000. XTX Topco Ltd increased its position in shares of LanzaTech Global by 380.5% during the second quarter. XTX Topco Ltd now owns 188,891 shares of the company’s stock valued at $51,000 after buying an additional 149,576 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of LanzaTech Global by 1,045.1% during the first quarter. AQR Capital Management LLC now owns 184,346 shares of the company’s stock valued at $45,000 after buying an additional 168,247 shares during the period. Hedge funds and other institutional investors own 17.76% of the company’s stock.

LanzaTech Global Company Profile

LanzaTech Global, Inc is a carbon recycling company that specializes in capturing industrial emissions and converting them into sustainable fuels and chemicals through a proprietary gas fermentation process. By utilizing metal- and microbe-catalyzed conversion technologies, the company transforms waste carbon monoxide and carbon dioxide streams from steel mills, refineries, and other industrial sites into ethanol, jet fuel precursors, and other commodity chemicals. These products can be used as drop-in replacements for petrochemicals, helping to reduce greenhouse gas emissions and advance circular economy initiatives.

Founded in 2005 and headquartered in Skokie, Illinois, LanzaTech has developed its platform through research collaborations and commercial demonstration plants.