Montauk Renewables (NASDAQ:MNTK) Price Target Cut to $6.00 by Analysts at B. Riley

Montauk Renewables (NASDAQ:MNTK) had its price objective trimmed by B. Riley from $7.00 to $6.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the stock. B. Riley also issued estimates for Montauk Renewables’ Q1 2024 earnings at ($0.02) EPS, Q2 2024 earnings at $0.08 EPS, Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.09 EPS, FY2024 earnings at $0.24 EPS and FY2025 earnings at $0.23 EPS.

MNTK has been the topic of a number of other research reports. Scotiabank decreased their price target on shares of Montauk Renewables from $9.00 to $8.00 and set a sector outperform rating on the stock in a report on Thursday, April 11th. TheStreet downgraded Montauk Renewables from a c- rating to a d+ rating in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $7.75.

Montauk Renewables Trading Up 11.2 %

Montauk Renewables stock opened at $4.67 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.07 and a current ratio of 3.07. Montauk Renewables has a fifty-two week low of $3.38 and a fifty-two week high of $10.95. The stock has a market cap of $670.71 million, a P/E ratio of 42.46 and a beta of -0.40. The firm’s fifty day moving average price is $4.21 and its 200-day moving average price is $6.86.

Montauk Renewables (NASDAQ:MNTK) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. Montauk Renewables had a return on equity of 6.32% and a net margin of 8.55%. The firm had revenue of $38.79 million for the quarter. During the same period in the previous year, the business earned ($0.03) EPS. Equities research analysts forecast that Montauk Renewables will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Montauk Renewables

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Montauk Renewables by 1.7% during the first quarter. Vanguard Group Inc. now owns 3,593,935 shares of the company’s stock valued at $14,951,000 after acquiring an additional 59,375 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Montauk Renewables during the 4th quarter valued at $99,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Montauk Renewables by 32.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,507 shares of the company’s stock worth $76,000 after purchasing an additional 2,079 shares in the last quarter. Moran Wealth Management LLC purchased a new stake in shares of Montauk Renewables in the 4th quarter worth about $170,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Montauk Renewables by 14.7% during the 4th quarter. Russell Investments Group Ltd. now owns 134,750 shares of the company’s stock valued at $1,226,000 after purchasing an additional 17,240 shares in the last quarter. Hedge funds and other institutional investors own 16.35% of the company’s stock.

About Montauk Renewables

Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. It operates in two segments, Renewable Natural Gas and Renewable Electricity Generation. The company develops, owns, and operates renewable natural gas (RNG) projects that captures methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.