Montauk Renewables (NASDAQ:MNTK) Shares Gap Down to $3.65

Montauk Renewables, Inc. (NASDAQ:MNTK) gapped down before the market opened on Wednesday . The stock had previously closed at $3.65, but opened at $3.54. Montauk Renewables shares last traded at $3.57, with a volume of 34,323 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MNTK. 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. TheStreet cut Montauk Renewables from a “c-” rating to a “d+” rating in a report on Wednesday, March 6th. Finally, 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. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Montauk Renewables has a consensus rating of “Hold” and a consensus target price of $8.00.

Montauk Renewables Trading Up 0.3 %

The firm has a 50-day moving average of $4.75 and a 200-day moving average of $7.32. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.07 and a current ratio of 3.07. The firm has a market capitalization of $525.94 million, a P/E ratio of 33.18 and a beta of -0.49.

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

Institutional Investors Weigh In On Montauk Renewables

A number of large investors have recently made changes to their positions in MNTK. Hosking Partners LLP grew its position in shares of Montauk Renewables by 13.2% in the 3rd quarter. Hosking Partners LLP now owns 897,071 shares of the company’s stock worth $8,172,000 after buying an additional 104,821 shares during the last quarter. PEAK6 Investments LLC bought a new stake in shares of Montauk Renewables in the 3rd quarter worth approximately $389,000. Vanguard Group Inc. grew its position in shares of Montauk Renewables by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,470,697 shares of the company’s stock worth $31,618,000 after buying an additional 38,605 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Montauk Renewables in the 3rd quarter worth approximately $219,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Montauk Renewables by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 498,080 shares of the company’s stock worth $4,538,000 after buying an additional 20,139 shares during the last quarter. 16.35% of the stock is currently 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.