Montauk Renewables (NASDAQ:MNTK) Stock Crosses Below 200-Day Moving Average – Should You Sell?

Shares of Montauk Renewables, Inc. (NASDAQ:MNTK) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $1.77 and traded as low as $1.12. Montauk Renewables shares last traded at $1.19, with a volume of 2,638,756 shares traded.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Zacks Research cut Montauk Renewables from a “strong-buy” rating to a “hold” rating in a report on Monday, November 2nd. Weiss Ratings raised Montauk Renewables from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, September 24th. Three equities research 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 has an average rating of “Reduce” and a consensus target price of $1.80.

Montauk Renewables Stock Performance

The firm has a market capitalization of $146.61 million, a price-to-earnings ratio of 17.17 and a beta of 0.70. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $2.38 and a 200-day moving average price of $1.77.

Institutional Investors Weigh In On Montauk Renewables

A number of institutional investors have recently modified their holdings of MNTK. BlackRock Inc. acquired a new stake in Montauk Renewables in the second quarter valued at $7,347,000. Russell Investments Group Ltd. lifted its stake in Montauk Renewables by 661.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 430,267 shares of the company’s stock valued at $1,176,000 after buying an additional 373,769 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Montauk Renewables by 3.5% in the first quarter. Renaissance Technologies LLC now owns 354,600 shares of the company’s stock valued at $408,000 after purchasing an additional 11,900 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Montauk Renewables in the 2nd quarter valued at about $314,000. Finally, Bank of New York Mellon Corp acquired a new position in Montauk Renewables during the 2nd quarter worth $306,000. 16.35% of the stock is owned by institutional investors and hedge funds.

Montauk Renewables Company Profile

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.