Montauk Renewables (NASDAQ:MNTK – Get Free Report) was upgraded by equities research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research note issued to investors on Monday, MarketBeat reports. The brokerage presently has a $9.00 price target on the stock. Scotiabank’s price objective would indicate a potential downside of 0.22% from the stock’s current price.
Separately, UBS Group raised their price objective on Montauk Renewables from $7.00 to $9.50 in a research note on Tuesday, July 25th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.13.
Montauk Renewables Price Performance
Institutional Trading of Montauk Renewables
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of Montauk Renewables by 185.2% during the second quarter. State Street Corp now owns 1,606,609 shares of the company’s stock valued at $16,146,000 after purchasing an additional 1,043,323 shares in the last quarter. Hosking Partners LLP boosted its position in shares of Montauk Renewables by 245.8% during the 2nd quarter. Hosking Partners LLP now owns 792,250 shares of the company’s stock valued at $5,894,000 after acquiring an additional 563,129 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Montauk Renewables by 437.1% in the second quarter. Northern Trust Corp now owns 583,443 shares of the company’s stock valued at $5,864,000 after purchasing an additional 474,806 shares in the last quarter. Millennium Management LLC increased its position in Montauk Renewables by 117.0% in the fourth quarter. Millennium Management LLC now owns 797,303 shares of the company’s stock worth $8,794,000 after purchasing an additional 429,809 shares during the last quarter. Finally, Susquehanna International Group LLP raised its stake in Montauk Renewables by 497.0% during the first quarter. Susquehanna International Group LLP now owns 375,075 shares of the company’s stock valued at $2,952,000 after purchasing an additional 312,249 shares in the last quarter. Institutional investors own 16.28% of the company’s stock.
About Montauk Renewables
Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. It operates in two segments, Renewable Natural Gas and Renewable Electricity Generation. The company develops, owns, and operates renewable natural gas (RNG) projects that capture methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.
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