Montauk Renewables, Inc. (NASDAQ:MNTK) Given Consensus Rating of “Reduce” by Brokerages

Shares of Montauk Renewables, Inc. (NASDAQ:MNTK) have been given an average recommendation of “Reduce” by the five ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $1.80.

MNTK has been the subject of several research reports. Weiss Ratings restated a “sell (d)” rating on shares of Montauk Renewables in a research report on Friday, July 17th. Zacks Research cut Montauk Renewables from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th.

Montauk Renewables Stock Performance

Shares of MNTK opened at $1.78 on Thursday. Montauk Renewables has a 12-month low of $1.07 and a 12-month high of $2.57. The stock has a market cap of $253.37 million, a P/E ratio of 29.67 and a beta of 0.57. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $1.71 and a two-hundred day moving average of $1.56.

Institutional Trading of Montauk Renewables

Several institutional investors and hedge funds have recently made changes to their positions in MNTK. AQR Capital Management LLC acquired a new stake in shares of Montauk Renewables during the first quarter valued at $62,000. Jane Street Group LLC raised its stake in Montauk Renewables by 303.4% in the 1st quarter. Jane Street Group LLC now owns 100,834 shares of the company’s stock valued at $213,000 after purchasing an additional 75,836 shares during the last quarter. Strs Ohio acquired a new position in Montauk Renewables in the 1st quarter valued at about $84,000. JPMorgan Chase & Co. lifted its holdings in Montauk Renewables by 25.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 64,772 shares of the company’s stock valued at $144,000 after purchasing an additional 12,974 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Montauk Renewables by 12.6% during the 2nd quarter. Rhumbline Advisers now owns 105,881 shares of the company’s stock worth $235,000 after purchasing an additional 11,820 shares during the last quarter. 16.35% of the stock is currently owned by hedge funds and other institutional investors.

Montauk Renewables Company Profile

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.