Montauk Renewables (NASDAQ:MNTK) Upgraded by Zacks Research to “Strong-Buy” Rating

Montauk Renewables (NASDAQ:MNTK) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also issued reports on MNTK. Wall Street Zen upgraded Montauk Renewables from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Tudor Pickering raised Montauk Renewables from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Montauk Renewables in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.33.

Montauk Renewables Stock Performance

Montauk Renewables stock opened at $1.65 on Tuesday. The company has a market cap of $234.73 million, a PE ratio of -27.50 and a beta of 0.07. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.21. Montauk Renewables has a 1 year low of $1.37 and a 1 year high of $4.71. The company’s 50-day moving average is $1.65 and its two-hundred day moving average is $1.94.

Montauk Renewables (NASDAQ:MNTK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.04 EPS for the quarter. Montauk Renewables had a negative net margin of 5.72% and a negative return on equity of 3.57%. The company had revenue of $45.26 million during the quarter, compared to analysts’ expectations of $44.28 million. Equities analysts anticipate that Montauk Renewables will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Montauk Renewables

Several institutional investors have recently modified their holdings of MNTK. Nisa Investment Advisors LLC grew its position in shares of Montauk Renewables by 799.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,696 shares of the company’s stock valued at $26,000 after purchasing an additional 10,396 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Montauk Renewables by 92.3% in the third quarter. BNP Paribas Financial Markets now owns 13,175 shares of the company’s stock valued at $26,000 after buying an additional 6,323 shares during the period. Virtu Financial LLC bought a new stake in shares of Montauk Renewables during the third quarter worth $28,000. Corient Private Wealth LLC bought a new stake in shares of Montauk Renewables during the second quarter worth $36,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Montauk Renewables during the third quarter worth $34,000. 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.