Montauk Renewables (NASDAQ:MNTK) Trading 8.4% Higher

Montauk Renewables, Inc. (NASDAQ:MNTK)’s stock price traded up 8.4% on Friday . The stock traded as high as $6.22 and last traded at $6.20. 59,434 shares were traded during trading, a decline of 82% from the average session volume of 330,266 shares. The stock had previously closed at $5.72.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. B. Riley dropped their price target on Montauk Renewables from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Scotiabank decreased their price target on Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 11th. Finally, TheStreet lowered Montauk Renewables from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th.

Montauk Renewables Price Performance

The firm has a market cap of $819.09 million, a P/E ratio of 38.00 and a beta of -0.20. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average of $4.81 and a two-hundred day moving average of $5.79.

Montauk Renewables (NASDAQ:MNTK) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $38.79 million for the quarter. Montauk Renewables had a return on equity of 8.44% and a net margin of 10.58%. During the same quarter in the prior year, the firm earned ($0.03) EPS. On average, sell-side analysts anticipate that Montauk Renewables, Inc. will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MNTK. Bleakley Financial Group LLC lifted its stake in shares of Montauk Renewables by 129.6% in the 4th quarter. Bleakley Financial Group LLC now owns 24,971 shares of the company’s stock valued at $222,000 after purchasing an additional 14,094 shares during the period. Russell Investments Group Ltd. increased its position in Montauk Renewables by 14.7% in the 4th quarter. Russell Investments Group Ltd. now owns 134,750 shares of the company’s stock valued at $1,226,000 after buying an additional 17,240 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in Montauk Renewables by 32.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,507 shares of the company’s stock valued at $76,000 after buying an additional 2,079 shares in the last quarter. Simplicity Solutions LLC increased its position in Montauk Renewables by 129.6% in the 4th quarter. Simplicity Solutions LLC now owns 24,971 shares of the company’s stock valued at $222,000 after buying an additional 14,094 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Montauk Renewables by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,470,697 shares of the company’s stock valued at $31,618,000 after buying an additional 38,605 shares in the last quarter. 16.35% of the stock is owned by institutional investors and hedge funds.

Montauk Renewables Company Profile

Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. It operates in two segments, Renewable Natural Gas and Renewable Electricity Generation. The company develops, owns, and operates renewable natural gas (RNG) projects that captures methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.