Wall Street Zen Upgrades Montauk Renewables (NASDAQ:MNTK) to “Buy”

Montauk Renewables (NASDAQ:MNTK) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday, Wall Street Zen reports.

Several other research analysts also recently issued reports on MNTK. Weiss Ratings upgraded shares of Montauk Renewables from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, September 24th. Zacks Research lowered shares of Montauk Renewables from a “strong-buy” rating to a “hold” rating in a report on Monday, November 2nd. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $1.80.

Montauk Renewables Stock Down 7.4%

NASDAQ MNTK opened at $0.95 on Friday. The stock’s 50 day simple moving average is $2.34 and its 200 day simple moving average is $1.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.62 and a quick ratio of 0.62. Montauk Renewables has a one year low of $0.94 and a one year high of $3.28. The firm has a market cap of $135.82 million, a PE ratio of 15.91 and a beta of 0.70.

Institutional Trading of Montauk Renewables

A number of large investors have recently made changes to their positions in MNTK. BlackRock Inc. bought a new stake in shares of Montauk Renewables during the second quarter worth $7,347,000. Russell Investments Group Ltd. boosted its position in Montauk Renewables by 661.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 430,267 shares of the company’s stock worth $1,176,000 after acquiring an additional 373,769 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Montauk Renewables during the 2nd quarter worth approximately $314,000. Bank of New York Mellon Corp bought a new position in shares of Montauk Renewables during the 2nd quarter worth approximately $306,000. Finally, J. Derek Lewis & Associates Inc. bought a new position in shares of Montauk Renewables during the 1st quarter worth approximately $98,000. Institutional investors own 16.35% of the company’s stock.

About Montauk Renewables

Montauk Renewables, Inc. develops, owns and operates renewable energy projects that capture and process biogas from landfills and other sources. The company converts this gas into renewable natural gas (RNG) and renewable electricity. Its activities include collecting and treating biogas, upgrading it to pipeline-quality RNG, and generating electricity for delivery to power markets. The company also earns environmental attributes associated with renewable energy production. Montauk Renewables’ projects are located in the United States.