Montauk Renewables, Inc. (NASDAQ:MNTK) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its stake in Montauk Renewables, Inc. (NASDAQ:MNTK) by 42.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 234,300 shares of the company’s stock after selling 172,272 shares during the quarter. Renaissance Technologies LLC owned about 0.16% of Montauk Renewables worth $1,336,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. CWM LLC grew its stake in shares of Montauk Renewables by 1,425.5% in the second quarter. CWM LLC now owns 4,485 shares of the company’s stock valued at $26,000 after buying an additional 4,191 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Montauk Renewables in the fourth quarter valued at about $99,000. Principal Financial Group Inc. grew its stake in shares of Montauk Renewables by 8.9% in the second quarter. Principal Financial Group Inc. now owns 25,902 shares of the company’s stock valued at $148,000 after buying an additional 2,107 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Montauk Renewables in the second quarter valued at about $228,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Montauk Renewables by 33.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,329 shares of the company’s stock valued at $181,000 after buying an additional 10,850 shares in the last quarter. Institutional investors and hedge funds own 16.35% of the company’s stock.

Analysts Set New Price Targets

Separately, Scotiabank restated a “sector perform” rating and set a $6.00 price objective (down previously from $8.00) on shares of Montauk Renewables in a research note on Tuesday, September 3rd.

Montauk Renewables Price Performance

MNTK stock opened at $5.41 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.19. Montauk Renewables, Inc. has a 52-week low of $3.38 and a 52-week high of $10.95. The stock’s 50 day moving average is $4.80 and its two-hundred day moving average is $4.79. The company has a market capitalization of $777.41 million, a PE ratio of 36.07 and a beta of -0.20.

Montauk Renewables (NASDAQ:MNTK) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.07). Montauk Renewables had a return on equity of 7.52% and a net margin of 10.22%. The business had revenue of $43.34 million for the quarter, compared to analysts’ expectations of $50.63 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. Analysts predict that Montauk Renewables, Inc. will post 0.2 earnings per share for the current fiscal year.

Montauk Renewables 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.