Montauk Renewables (NASDAQ:MNTK) Stock Rating Lowered by Zacks Research

Montauk Renewables (NASDAQ:MNTK) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other research firms have also recently commented on MNTK. Wall Street Zen raised shares of Montauk Renewables from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. UBS Group lowered their price target on shares of Montauk Renewables from $2.85 to $1.60 and set a “neutral” rating on the stock in a report on Friday, April 24th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Montauk Renewables in a report on Tuesday, April 21st. Finally, Scotiabank lowered their price target 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. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $1.80.

Montauk Renewables Trading Down 5.6%

NASDAQ:MNTK opened at $1.53 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $217.78 million, a PE ratio of 76.54 and a beta of 0.47. The firm’s 50 day moving average is $1.33 and its 200 day moving average is $1.58. Montauk Renewables has a 12 month low of $1.07 and a 12 month high of $2.78.

Montauk Renewables (NASDAQ:MNTK) last posted its quarterly earnings results on Wednesday, March 11th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). The company had revenue of $43.39 million during the quarter, compared to the consensus estimate of $44.39 million. Montauk Renewables had a return on equity of 0.28% and a net margin of 0.40%. Sell-side analysts expect that Montauk Renewables will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MNTK. BNP Paribas Financial Markets grew its stake in Montauk Renewables by 92.3% in the 3rd 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 in the last quarter. Virtu Financial LLC purchased a new position in Montauk Renewables in the 3rd quarter valued at approximately $28,000. Two Sigma Investments LP purchased a new position in Montauk Renewables in the 3rd quarter valued at approximately $34,000. Corient Private Wealth LLC purchased a new position in Montauk Renewables in the 2nd quarter valued at approximately $36,000. Finally, HRT Financial LP purchased a new position in Montauk Renewables in the 4th quarter valued at approximately $44,000. 16.35% of the stock is currently owned by hedge funds and other institutional investors.

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.