Janney Montgomery Scott Downgrades LanzaTech Global (NASDAQ:LNZA) to Neutral

LanzaTech Global (NASDAQ:LNZA) was downgraded by stock analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research note issued on Thursday, MarketBeat reports.

LanzaTech Global Trading Up 8.5 %

Shares of LNZA stock opened at $0.54 on Thursday. LanzaTech Global has a 1 year low of $0.48 and a 1 year high of $3.41. The company has a debt-to-equity ratio of 6.64, a current ratio of 2.91 and a quick ratio of 2.91. The stock’s 50 day simple moving average is $1.01 and its two-hundred day simple moving average is $1.33. The company has a market cap of $106.95 million, a PE ratio of -0.83 and a beta of 1.32.

Institutional Investors Weigh In On LanzaTech Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LNZA. Millennium Management LLC raised its holdings in shares of LanzaTech Global by 95.0% in the fourth quarter. Millennium Management LLC now owns 88,261 shares of the company’s stock worth $121,000 after buying an additional 42,996 shares during the period. Bank of America Corp DE raised its holdings in shares of LanzaTech Global by 47.2% in the fourth quarter. Bank of America Corp DE now owns 93,807 shares of the company’s stock worth $129,000 after buying an additional 30,066 shares during the period. Northern Trust Corp raised its holdings in shares of LanzaTech Global by 3.7% in the fourth quarter. Northern Trust Corp now owns 862,507 shares of the company’s stock worth $1,182,000 after buying an additional 30,845 shares during the period. Price T Rowe Associates Inc. MD raised its holdings 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 buying an additional 16,325 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of LanzaTech Global in the fourth quarter worth approximately $85,000. 17.76% of the stock is currently owned by hedge funds and other institutional investors.

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.