B. Riley Issues Pessimistic Forecast for Montauk Renewables (NASDAQ:MNTK) Stock Price

Montauk Renewables (NASDAQ:MNTK) had its price objective cut by investment analysts at B. Riley from $4.00 to $3.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. B. Riley’s target price would suggest a potential upside of 44.93% from the stock’s current price.

Montauk Renewables Price Performance

Shares of NASDAQ MNTK opened at $2.07 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $3.98 and its 200-day moving average price is $4.47. The firm has a market capitalization of $296.77 million, a P/E ratio of 12.94 and a beta of -0.20. Montauk Renewables has a 1-year low of $2.06 and a 1-year high of $6.22.

Montauk Renewables (NASDAQ:MNTK) last posted its earnings results on Thursday, March 13th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.11). The business had revenue of $27.74 million for the quarter, compared to the consensus estimate of $59.92 million. Montauk Renewables had a return on equity of 8.88% and a net margin of 11.80%. Equities research analysts anticipate that Montauk Renewables will post 0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Montauk Renewables

Hedge funds and other institutional investors have recently made changes to their positions in the business. KLP Kapitalforvaltning AS bought a new stake in shares of Montauk Renewables during the fourth quarter worth about $25,000. Point72 Asia Singapore Pte. Ltd. grew its position in Montauk Renewables by 105.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,898 shares of the company’s stock worth $26,000 after purchasing an additional 2,509 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in Montauk Renewables in the 4th quarter worth about $40,000. ABC Arbitrage SA bought a new stake in Montauk Renewables in the 4th quarter worth about $55,000. Finally, ProShare Advisors LLC grew its position in Montauk Renewables by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 18,588 shares of the company’s stock worth $74,000 after purchasing an additional 6,117 shares in the last quarter. 16.35% of the stock is owned by institutional investors.

About Montauk Renewables

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.