Montauk Renewables, Inc. (NASDAQ:MNTK) Receives Average Rating of “Reduce” from Analysts

Montauk Renewables, Inc. (NASDAQ:MNTK) has received a consensus recommendation of “Reduce” from the five research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $1.80.

Several analysts have recently commented on the stock. Zacks Research cut shares of Montauk Renewables from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Scotiabank dropped 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 research note on Wednesday, April 22nd. UBS Group cut their price target on shares of Montauk Renewables from $2.85 to $1.60 and set a “neutral” rating for the company in a report on Friday, April 24th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Montauk Renewables in a research report on Friday, July 17th.

Montauk Renewables Stock Performance

NASDAQ:MNTK opened at $1.71 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $243.40 million, a price-to-earnings ratio of 85.54 and a beta of 0.57. The firm’s fifty day moving average price is $1.66 and its 200 day moving average price is $1.52. Montauk Renewables has a 1-year low of $1.07 and a 1-year high of $2.57.

Institutional Trading of Montauk Renewables

Hedge funds have recently modified their holdings of the business. Rathbones Group PLC boosted its stake in shares of Montauk Renewables by 10.9% in the first quarter. Rathbones Group PLC now owns 102,000 shares of the company’s stock valued at $117,000 after buying an additional 10,000 shares in the last quarter. J. Derek Lewis & Associates Inc. acquired a new position in Montauk Renewables during the first quarter worth $98,000. Renaissance Technologies LLC raised its position in Montauk Renewables by 3.5% in the first quarter. Renaissance Technologies LLC now owns 354,600 shares of the company’s stock worth $408,000 after acquiring an additional 11,900 shares in the last quarter. Invesco Ltd. raised its position in Montauk Renewables by 35.0% in the fourth quarter. Invesco Ltd. now owns 31,055 shares of the company’s stock worth $52,000 after acquiring an additional 8,054 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Montauk Renewables by 51.9% in the fourth quarter. Wells Fargo & Company MN now owns 75,049 shares of the company’s stock valued at $125,000 after acquiring an additional 25,645 shares during the period. 16.35% of the stock is owned by institutional investors and hedge funds.

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.