Montauk Renewables, Inc. (NASDAQ:MNTK) Sees Significant Decrease in Short Interest

Montauk Renewables, Inc. (NASDAQ:MNTK) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 1,082,146 shares, a decline of 19.2% from the December 15th total of 1,338,997 shares. Currently, 1.7% of the company’s shares are sold short. Based on an average daily volume of 138,974 shares, the days-to-cover ratio is presently 7.8 days. Based on an average daily volume of 138,974 shares, the days-to-cover ratio is presently 7.8 days. Currently, 1.7% of the company’s shares are sold short.

Montauk Renewables Trading Down 1.4%

Shares of MNTK traded down $0.02 during trading hours on Monday, reaching $1.43. 111,743 shares of the company traded hands, compared to its average volume of 113,372. The firm has a market cap of $203.43 million, a price-to-earnings ratio of -23.83 and a beta of 0.07. Montauk Renewables has a 12-month low of $1.41 and a 12-month high of $4.71. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average price is $1.72 and its 200 day moving average price is $1.98.

Montauk Renewables (NASDAQ:MNTK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.04 EPS for the quarter. Montauk Renewables had a negative net margin of 5.72% and a negative return on equity of 3.57%. The company had revenue of $45.26 million for the quarter, compared to the consensus estimate of $44.28 million. Sell-side analysts forecast that Montauk Renewables will post 0.19 earnings per share for the current year.

Institutional Trading of Montauk Renewables

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Montauk Renewables by 174.6% in the third quarter. JPMorgan Chase & Co. now owns 177,855 shares of the company’s stock valued at $357,000 after purchasing an additional 113,083 shares during the period. Citadel Advisors LLC raised its position in Montauk Renewables by 178.4% during the 3rd quarter. Citadel Advisors LLC now owns 204,707 shares of the company’s stock valued at $411,000 after purchasing an additional 131,164 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Montauk Renewables by 6.9% in the 3rd quarter. Alliancebernstein L.P. now owns 97,520 shares of the company’s stock worth $196,000 after buying an additional 6,300 shares during the period. Virtu Financial LLC purchased a new stake in Montauk Renewables in the third quarter worth about $28,000. Finally, Two Sigma Investments LP purchased a new position in Montauk Renewables during the 3rd quarter valued at about $34,000. Institutional investors own 16.35% of the company’s stock.

Wall Street Analysts Forecast Growth

MNTK has been the subject of several recent analyst reports. Zacks Research raised shares of Montauk Renewables from a “strong sell” rating to a “hold” rating in a research note on Friday, October 17th. Tudor Pickering upgraded shares of Montauk Renewables from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Montauk Renewables in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Montauk Renewables from a “sell” rating to a “hold” rating in a research report on Saturday. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Montauk Renewables currently has a consensus rating of “Reduce” and an average target price of $3.33.

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.