Montauk Renewables (NASDAQ:MNTK) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Montauk Renewables (NASDAQ:MNTK) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks reports.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Montauk Renewables in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $1.80.

Montauk Renewables Stock Performance

NASDAQ:MNTK opened at $2.13 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.57. The firm’s fifty day simple moving average is $1.74 and its 200 day simple moving average is $1.56. The stock has a market cap of $303.18 million, a P/E ratio of 35.51 and a beta of 0.54. Montauk Renewables has a twelve month low of $1.07 and a twelve month high of $2.57.

Institutional Trading of Montauk Renewables

Several institutional investors have recently bought and sold shares of the company. Corient Private Wealth LLC purchased a new stake in shares of Montauk Renewables during the second quarter valued at approximately $36,000. Two Sigma Investments LP purchased a new stake in shares of Montauk Renewables during the third quarter valued at $34,000. Virtu Financial LLC bought a new stake in Montauk Renewables in the 3rd quarter worth about $28,000. Bank of America Corp DE purchased a new position in Montauk Renewables in the 2nd quarter worth about $70,000. Finally, Bank of New York Mellon Corp bought a new position in Montauk Renewables during the second quarter valued at approximately $306,000. 16.35% of the stock is 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.