Montauk Renewables (NASDAQ:MNTK) Shares Gap Down to $4.10

Montauk Renewables, Inc. (NASDAQ:MNTK) shares gapped down before the market opened on Tuesday . The stock had previously closed at $4.10, but opened at $3.90. Montauk Renewables shares last traded at $3.90, with a volume of 41,250 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MNTK shares. Scotiabank lowered their target price on shares of Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 11th. B. Riley lowered their price objective on shares of Montauk Renewables from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. Finally, TheStreet cut shares of Montauk Renewables from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Montauk Renewables has an average rating of “Hold” and a consensus price target of $8.00.

Montauk Renewables Stock Down 2.6 %

The company’s fifty day moving average is $4.99 and its 200-day moving average is $7.49. The company has a market capitalization of $504.38 million, a PE ratio of 31.91 and a beta of -0.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.07 and a current ratio of 3.07.

Montauk Renewables (NASDAQ:MNTK) last released its earnings results on Thursday, March 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $46.81 million during the quarter, compared to analysts’ expectations of $52.86 million. Montauk Renewables had a return on equity of 6.32% and a net margin of 8.55%. As a group, analysts predict that Montauk Renewables, Inc. will post 0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Montauk Renewables

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNTK. Tower Research Capital LLC TRC grew its holdings in Montauk Renewables by 152.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,466 shares of the company’s stock valued at $33,000 after buying an additional 2,700 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Montauk Renewables during the 3rd quarter valued at approximately $35,000. US Bancorp DE purchased a new stake in Montauk Renewables during the 4th quarter valued at approximately $38,000. Lazard Asset Management LLC purchased a new stake in Montauk Renewables during the 1st quarter valued at approximately $52,000. Finally, UBS Group AG grew its holdings in Montauk Renewables by 72.2% during the 4th quarter. UBS Group AG now owns 6,503 shares of the company’s stock valued at $72,000 after buying an additional 2,727 shares in the last quarter. 16.35% of the stock is owned by hedge funds and other institutional investors.

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 captures methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.