UBS Group Lowers Montauk Renewables (NASDAQ:MNTK) Price Target to $3.00

Montauk Renewables (NASDAQ:MNTK) had its price target reduced by research analysts at UBS Group from $6.25 to $3.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price would indicate a potential upside of 44.93% from the stock’s current price.

Separately, B. Riley reduced their target price on shares of Montauk Renewables from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Friday.

Montauk Renewables Stock Down 16.9 %

Shares of MNTK opened at $2.07 on Friday. Montauk Renewables has a 12-month low of $2.06 and a 12-month high of $6.22. The firm has a fifty day moving average price of $3.98 and a 200-day moving average price of $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. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.17.

Montauk Renewables (NASDAQ:MNTK) last announced its earnings results on Thursday, March 13th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). The firm had revenue of $27.74 million during 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 expect that Montauk Renewables will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Montauk Renewables

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. increased its holdings 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 buying an additional 2,509 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Montauk Renewables in the 4th quarter worth approximately $25,000. N.E.W. Advisory Services LLC acquired a new position in Montauk Renewables in the 4th quarter worth approximately $40,000. ABC Arbitrage SA acquired a new position in Montauk Renewables in the 4th quarter worth approximately $55,000. Finally, Townsquare Capital LLC acquired a new position in Montauk Renewables in the 3rd quarter worth approximately $75,000. Institutional investors and hedge funds own 16.35% of the company’s stock.

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.