Montauk Renewables (NASDAQ:MNTK) Rating Lowered to “Hold” at Zacks Research

Montauk Renewables (NASDAQ:MNTK) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other analysts have also issued research reports about the company. Scotiabank dropped their price objective on Montauk Renewables from $4.00 to $2.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 22nd. Wall Street Zen raised Montauk Renewables from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. UBS Group dropped their price objective on Montauk Renewables from $2.85 to $1.60 and set a “neutral” rating for the company in a research note on Friday, April 24th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Montauk Renewables in a report on Tuesday, April 21st. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $1.80.

Montauk Renewables Stock Performance

NASDAQ:MNTK opened at $1.53 on Thursday. The firm has a market cap of $217.78 million, a PE ratio of 76.54 and a beta of 0.47. Montauk Renewables has a fifty-two week low of $1.07 and a fifty-two week high of $2.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 0.85. The business has a 50 day moving average price of $1.33 and a 200-day moving average price of $1.58.

Montauk Renewables (NASDAQ:MNTK) last released its quarterly earnings data on Wednesday, March 11th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). The company had revenue of $43.39 million for the quarter, compared to analysts’ expectations of $44.39 million. Montauk Renewables had a net margin of 0.40% and a return on equity of 0.28%. Equities research analysts predict that Montauk Renewables will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Montauk Renewables

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Montauk Renewables by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,724,933 shares of the company’s stock valued at $2,881,000 after acquiring an additional 37,315 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Montauk Renewables by 3.5% during the first quarter. Renaissance Technologies LLC now owns 354,600 shares of the company’s stock valued at $408,000 after acquiring an additional 11,900 shares in the last quarter. Citadel Advisors LLC raised its holdings in shares of Montauk Renewables by 178.4% during the third quarter. Citadel Advisors LLC now owns 204,707 shares of the company’s stock valued at $411,000 after acquiring an additional 131,164 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Montauk Renewables by 18.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 196,032 shares of the company’s stock valued at $327,000 after acquiring an additional 30,273 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Montauk Renewables by 174.6% during the third quarter. JPMorgan Chase & Co. now owns 177,855 shares of the company’s stock valued at $357,000 after acquiring an additional 113,083 shares in the last quarter. Institutional investors own 16.35% of the company’s stock.

About Montauk Renewables

Montauk Renewables Holdings, Inc is a renewable energy company headquartered in Irving, Texas, specializing in the capture and conversion of landfill gas into clean energy products. The company’s core operations focus on the design, development and operation of landfill gas collection systems that extract methane and other biogases generated by municipal solid waste. Montauk processes this gas into renewable natural gas (RNG) suitable for pipeline injection and also generates electricity for sale to utilities and commercial consumers.

Through its subsidiaries, Montauk provides a suite of environmental and waste‐management services across the United States and Canada.