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

Montauk Renewables, Inc. (NASDAQ:MNTK) has been given an average recommendation of “Reduce” by the five brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $1.80.

Several equities research analysts have issued reports on MNTK shares. Weiss Ratings reissued a “sell (d)” rating on shares of Montauk Renewables in a research note on Tuesday, April 21st. Zacks Research cut Montauk Renewables from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. UBS Group cut their price objective on Montauk Renewables from $2.85 to $1.60 and set a “neutral” rating for the company in a research report on Friday, April 24th. Finally, Scotiabank reduced their price objective on shares of Montauk Renewables from $4.00 to $2.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 22nd.

Hedge Funds Weigh In On Montauk Renewables

Several large investors have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new position in shares of Montauk Renewables during the 1st quarter worth approximately $62,000. Brevan Howard Capital Management LP raised its position in Montauk Renewables by 68.8% in the second quarter. Brevan Howard Capital Management LP now owns 26,774 shares of the company’s stock valued at $59,000 after purchasing an additional 10,911 shares during the period. Invesco Ltd. lifted its stake in Montauk Renewables by 35.0% during the fourth quarter. Invesco Ltd. now owns 31,055 shares of the company’s stock worth $52,000 after purchasing an additional 8,054 shares in the last quarter. HRT Financial LP acquired a new position in Montauk Renewables during the fourth quarter worth $44,000. Finally, Corient Private Wealth LLC purchased a new position in shares of Montauk Renewables during the second quarter worth $36,000. 16.35% of the stock is currently owned by institutional investors and hedge funds.

Montauk Renewables Stock Down 1.2%

MNTK stock opened at $1.64 on Wednesday. Montauk Renewables has a one year low of $1.07 and a one year high of $2.57. The firm has a market cap of $233.44 million, a PE ratio of 82.04 and a beta of 0.57. The firm’s 50 day moving average price is $1.58 and its 200-day moving average price is $1.52. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 0.85.

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.