Bank of New York Mellon Corp Grows Stock Position in Montauk Renewables, Inc. (NASDAQ:MNTK)

Bank of New York Mellon Corp lifted its stake in Montauk Renewables, Inc. (NASDAQ:MNTK) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 237,394 shares of the company’s stock after buying an additional 20,562 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.17% of Montauk Renewables worth $945,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MNTK. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Montauk Renewables by 105.0% in 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 during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Montauk Renewables in the 4th quarter valued at $40,000. ABC Arbitrage SA purchased a new stake in Montauk Renewables during the fourth quarter worth $55,000. Townsquare Capital LLC acquired a new stake in Montauk Renewables during the third quarter valued at $75,000. Finally, SG Americas Securities LLC increased its holdings in Montauk Renewables by 45.2% in the fourth quarter. SG Americas Securities LLC now owns 31,715 shares of the company’s stock valued at $126,000 after buying an additional 9,877 shares in the last quarter. Hedge funds and other institutional investors own 16.35% of the company’s stock.

Montauk Renewables Price Performance

Montauk Renewables stock opened at $2.25 on Wednesday. The stock has a market capitalization of $320.48 million, a P/E ratio of 14.06 and a beta of -0.20. The company’s fifty day moving average price is $3.70 and its 200 day moving average price is $4.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.04 and a current ratio of 2.04. Montauk Renewables, Inc. has a 1 year low of $2.00 and a 1 year high of $6.22.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MNTK. UBS Group lowered their target price on shares of Montauk Renewables from $6.25 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. B. Riley reduced their price target on Montauk Renewables from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Friday, March 14th.

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.