Montauk Renewables (NASDAQ:MNTK) Shares Gap Up on Earnings Beat

Montauk Renewables, Inc. (NASDAQ:MNTK)’s stock price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $4.20, but opened at $4.39. Montauk Renewables shares last traded at $4.67, with a volume of 126,447 shares.

The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $38.79 million for the quarter. Montauk Renewables had a return on equity of 6.32% and a net margin of 8.55%. During the same quarter last year, the business posted ($0.03) EPS.

Analysts Set New Price Targets

MNTK has been the subject of a number of recent research reports. Scotiabank cut their price objective on shares of Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 11th. B. Riley decreased their target price on shares of Montauk Renewables from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, TheStreet lowered shares of Montauk Renewables from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Three equities 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, Montauk Renewables has a consensus rating of “Hold” and a consensus price target of $7.75.

Hedge Funds Weigh In On Montauk Renewables

A number of large investors have recently bought and sold shares of MNTK. C M Bidwell & Associates Ltd. acquired a new stake in Montauk Renewables in the 3rd quarter valued at about $35,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Montauk Renewables by 32.3% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,507 shares of the company’s stock valued at $76,000 after purchasing an additional 2,079 shares during the period. Orion Portfolio Solutions LLC purchased a new stake in Montauk Renewables in the third quarter valued at approximately $99,000. Quadrature Capital Ltd acquired a new position in Montauk Renewables during the fourth quarter valued at approximately $99,000. Finally, Strs Ohio acquired a new position in Montauk Renewables during the third quarter valued at approximately $144,000. Hedge funds and other institutional investors own 16.35% of the company’s stock.

Montauk Renewables Trading Up 7.1 %

The firm has a market capitalization of $646.29 million, a price-to-earnings ratio of 41.28 and a beta of -0.40. The business’s 50-day moving average price is $4.21 and its 200 day moving average price is $6.86. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.07 and a quick ratio of 3.07.

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.