Montauk Renewables (NASDAQ:MNTK) Shares Gap Down to $4.10

Montauk Renewables, Inc. (NASDAQ:MNTK) shares gapped down prior to trading on Tuesday . The stock had previously closed at $4.10, but opened at $3.90. Montauk Renewables shares last traded at $3.90, with a volume of 41,250 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently commented on MNTK. Scotiabank decreased their price objective on Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. B. Riley decreased their price objective on Montauk Renewables from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, March 7th. Finally, TheStreet cut Montauk Renewables from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.00.

Montauk Renewables Stock Down 7.8 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 3.07 and a quick ratio of 3.07. The business has a 50 day simple moving average of $5.10 and a 200 day simple moving average of $7.56. The company has a market capitalization of $543.19 million, a price-to-earnings ratio of 37.28 and a beta of -0.48.

Montauk Renewables (NASDAQ:MNTK) last released its quarterly earnings results on Thursday, March 14th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Montauk Renewables had a return on equity of 6.32% and a net margin of 8.55%. The firm had revenue of $46.81 million for the quarter, compared to analyst estimates of $52.86 million. As a group, equities analysts predict that Montauk Renewables, Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Montauk Renewables

A number of large investors have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new stake in shares of Montauk Renewables during the fourth quarter worth $99,000. Vanguard Group Inc. increased its position in shares of Montauk Renewables by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 3,534,560 shares of the company’s stock worth $31,493,000 after acquiring an additional 63,863 shares during the period. Legal & General Group Plc increased its position in shares of Montauk Renewables by 7.2% during the fourth quarter. Legal & General Group Plc now owns 55,028 shares of the company’s stock worth $490,000 after acquiring an additional 3,696 shares during the period. Barclays PLC increased its position in shares of Montauk Renewables by 250.3% during the fourth quarter. Barclays PLC now owns 202,709 shares of the company’s stock worth $1,806,000 after acquiring an additional 144,846 shares during the period. Finally, Nuveen Asset Management LLC increased its position in shares of Montauk Renewables by 5.5% during the fourth quarter. Nuveen Asset Management LLC now owns 183,209 shares of the company’s stock worth $1,632,000 after acquiring an additional 9,531 shares during the period. Hedge funds and other 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.