Montauk Renewables (NASDAQ:MNTK) Price Target Cut to $6.00 by Analysts at B. Riley

Montauk Renewables (NASDAQ:MNTK) had its target price reduced by B. Riley from $7.00 to $6.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. B. Riley’s price target points to a potential upside of 45.63% from the company’s current price.

Other analysts have also recently issued reports about the stock. Scotiabank lowered their target price on shares of Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 11th. TheStreet cut shares of Montauk Renewables from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.75.

Montauk Renewables Stock Up 4.8 %

Shares of NASDAQ:MNTK traded up $0.19 during trading on Tuesday, reaching $4.12. The stock had a trading volume of 149,124 shares, compared to its average volume of 357,899. Montauk Renewables has a one year low of $3.38 and a one year high of $10.95. The company has a market capitalization of $591.71 million, a P/E ratio of 37.28 and a beta of -0.40. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.22. The firm’s 50-day simple moving average is $4.34 and its 200 day simple moving average is $6.98.

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

Hedge Funds Weigh In On Montauk Renewables

A number of institutional investors have recently bought and sold shares of MNTK. C M Bidwell & Associates Ltd. purchased a new position in Montauk Renewables during the 3rd quarter worth approximately $35,000. BI Asset Management Fondsmaeglerselskab A S raised its position in Montauk Renewables by 32.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,507 shares of the company’s stock worth $76,000 after buying an additional 2,079 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new position in Montauk Renewables during the 3rd quarter worth approximately $99,000. Quadrature Capital Ltd purchased a new position in Montauk Renewables during the 4th quarter worth approximately $99,000. Finally, Strs Ohio purchased a new position in Montauk Renewables during the 3rd quarter worth approximately $144,000. 16.35% of the stock is owned by hedge funds and other institutional investors.

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.