Research Analysts Set Expectations for MNTK FY2024 Earnings

Montauk Renewables, Inc. (NASDAQ:MNTK) – Equities researchers at B. Riley lowered their FY2024 earnings per share estimates for Montauk Renewables in a research report issued on Thursday, February 27th. B. Riley analyst R. Pfingst now anticipates that the company will post earnings of $0.18 per share for the year, down from their prior estimate of $0.21. The consensus estimate for Montauk Renewables’ current full-year earnings is $0.19 per share.

Montauk Renewables Trading Down 10.2 %

NASDAQ MNTK opened at $3.43 on Friday. The company has a market cap of $491.75 million, a price-to-earnings ratio of 21.44 and a beta of -0.25. Montauk Renewables has a 52 week low of $3.38 and a 52 week high of $6.22. The business has a 50 day moving average price of $4.22 and a 200-day moving average price of $4.57. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

Institutional Investors Weigh In On Montauk Renewables

Hedge funds and other institutional investors have recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new stake in shares of Montauk Renewables during the fourth quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Montauk Renewables by 105.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,898 shares of the company’s stock valued at $26,000 after acquiring an additional 2,509 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in Montauk Renewables during the fourth quarter worth $40,000. ABC Arbitrage SA bought a new stake in Montauk Renewables during the fourth quarter worth $55,000. Finally, ProShare Advisors LLC grew its holdings in Montauk Renewables by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 18,588 shares of the company’s stock worth $74,000 after buying an additional 6,117 shares in the last quarter. Institutional investors own 16.35% of the company’s stock.

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.